How long do I have to wait? Foreclosures and Short Sales

I often get asked what can be done after foreclosure and/or short sale if you want to buy a home again.  Specifically, how long do you have to wait or how long it will be on one’s credit.  Well hopefully this infographic will help.  Now keep in mind, every lender is differs slightly with their criteria and what you will have to do but this will help you figure out how long you will have to wait after a “Unfavorable Credit Event.”

If you need more specifics on what can be done, or if you want to avoid foreclosure and perhaps do a short sale on your home, please don’t hesitate to call me.  Earlier is better when you’re in trouble with your lender.

Thanks to Short Sale Operations for the infographic.

 

This infographic explains how long you will have to wait to get a new mortgage depending on your circumstances.

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