If You Completed A Short Sale You Can Now Purchase Sooner

If You Completed A Short Sale You Can Now Purchase Sooner

Image title



Exciting news for our past clients and sellers who have completed a short sale!!


The mandatory waiting period to purchase a new home after doing a short sale has now been reduced to 2 years. Prior to the change, Fannie Mae required borrowers to wait 4 years after completing a short sale before re applying for a new loan. They then reduced it to 2 1/2 years, and as of 2016 it is now 2 years!


Borrowers wishing to apply for a loan using ‘Fannie Mae's Extenuating Circumstances Program’ should be prepared to provide proof of the hardship such as a copy of a divorce decree; medical bills; and, notice of job loss or job severance papers.


Borrowers should also be prepared to write a brief letter describing the hardship and how it directly led to the bankruptcy, pre-foreclosure, or short sale. The letter should make it clear that default was the borrower's only reasonable course of action, given the circumstances. Your short sale specialist will be able to help with this letter.


This is just another added benefit of going through the short sale process! If you are deciding whether you should go through a short sale or just let the property foreclose, this should encourage you that within a short amount of time you can purchase again.


A short sale gives you the ability to settle your debt with your lender(s) and be able to sell your house without paying anything.


If you went through a short sale and are now looking to purchase let us help! 972-832-2755


Nicole Espinosa Headshot
Author:
Phone: 972-832-2755
Dated: March 14th 2016
Views: 1,135
About Nicole: Nicole is a leading Short sale expert in the Dallas Fort Worth market. Before Nicole did short sale...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

How Long Will The Housing Market Stay Hot For Home Sellers - Are the Days of the Seller’s
New Listing In Starwood Located In Frisco Texas - Starwood is a master-planned
2 Myths Holding Back Home Buyers - 2 Myths Holding Back Home
New Home Sales Rise But So Do Prices - Following news that sales of

Our Bloggers

The Doyle Team * - 2
Comprar Casa DFW * - 2
Gabrielle Armstrong - 5
Cara Balderas - 50
Tami Bennett - 45
Justin Blackburn - 1
Jessica Boozer - 18
Rhonda Borgne - 1
Olivia Borowski - 1
Jennifer Boyd - 2
Deborah Boyd - 390
Jamie Brannagan - 1
Kathryn Brick - 1
Annette Bruen - 21
Moira Brunken - 18
Beverly Bryant - 23
Ana Cantu - 1
Lisa Cardillo - 53
Bob Cardillo - 4
Lucina Cervantes - 11
Gregory Cornett - 2
Angela Cotten - 85
Missie Craig - 12
Greg Cunningham - 2
Sarah Dieter - 9
Belinda Duff - 5
Leah Ecob - 15
Kristine Edens - 3
Jill Elliott - 99
Laneal Ernest - 9
Nicole Espinosa - 27
Christopher Evans - 1
Heather Feragotti - 8
Mark Fischer - 2
Susan Florsch - 12
Jennifer Flynn - 9
Leslie Fogle - 101
Larry Frassinelli - 6
Chad Gabriel - 58
Shalee Garza - 10
Timothy Gilliam - 2
Christina Gonzalez - 5
Wilma Goodwin - 2
William Graves - 5
Kristen Henderson - 1
Beth Herr - 1
Hunter Howard - 1
Sandra Hunt - 89
Bill Hurd - 3
Gary Hutchings - 20
Rachel Jama - 47
Trenton Johnson - 15
Felicia Johnson - 79
Dakota Joyner - 8
Jemi Khan - 26
Leigh Klotz - 5
Amber L Johnson - 9
Michele Lafortune - 22
Wanda Lewis - 2
Stacy Lynn Massar - 27
Jennifer Menting - 17
Mikki Migis - 8
Richard Mikus - 1
Sean Moniri - 21
Naddia Morales - 10
Keith Moses - 9
Mark Mulch - 19
Erick Murphy - 6
Steve Murray - 1
Julie Nicholson - 10
Nikki Okpuzor - 3
Alan Oliver - 7
Kelly Oltmann - 4
Kaysone Orlando - 1
Holli Paddio - 3
JP Piccinini - 50
Julie Ann Pickering - 85
Ann-Marie Pope - 2
John Priestash - 20
Joshua Putman - 111
Mimi Rader - 1
Shelia Randolph - 33
Teneka Ray - 1
Go 2 Girls Realty - 173
Bethany Rowan - 15
Kristi Roy - 1
Kelly Rumney - 9
Amy Jo Saenz - 3
Linda Scardis - 4
Sandy Setliff - 215
Christine Shannon - 30
Rene Sinclair - 27
Shelby Smith - 3
Bryce Smith - 5
Monica Solkhon - 1
Rodrigo Sotomayor - 16
Jenna Stanley - 9
Tim Stoll - 21
Kelley Stubbs - 3
Melodie Sulgrove - 1
Seana Taylor - 208
Mary Taylor - 14
Kevin Taylor - 15
Julian Taylor - 17
Erica Taylor - 54
Angela Taylor - 1
Karla Terrell - 2
Joey Thomas - 2
Michele Thompson - 6
Jason Todd - 24
Andrea Trimble - 55
Sarah Uber - 1
Diane Velez - 17
Debbie Viverito - 132
Nick Walton - 75
Spring Weeks - 9
Clint White - 2
Michael Worley - 161
Martina Worley - 2
Keisha York - 30
Audra Young - 1
Debbie Zurita - 17

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6175 Main Street #355 Frisco Texas 75034
Frisco, TX
972-375-9448
4692875503

Other Locations