Mortgage After Short Sale Foreclosure

FHA insured mortgages are generally available to borrowers whose property was foreclosed on or given a deed-in-lieu of foreclosure after a 3 year waiting period. However, if the foreclosure of the borrower’s main residence was the result of extenuating circumstances, which now includes a twenty percent year after foreclosure if you have since established good credit.
or more drop of income which is considered an “economic event” an exception may be granted. Call and find out if Caroline Gerardo can help you.  (949) 637-8190

Back To Work Program: You will need to show you had a job loss, serious illness that made you take off work, had to move locations for a job or catastrophe that caused you to get behind. You can’t just have stopped making payments because you didn’t want to pay on an upside down house.

Buy a home with a VA loan in just 2 years after foreclosure.

If you are a Veteran and have Certificate of Eligibility and DD214 you may qualify to purchase a new home in as little as 2 years after foreclosure or short sale.


Can I Buy A Home Again After A Short Sale?

Millions of Americans suffered through short sales in the last few years. You may not need 20% down payment to go conventional

 It is important to get your credit back in line, as FICO score does drive the interest rates. Ask me about my free programs to help increase your FICO score.

The good news is that if you have short sold your house in the past, it is possible to get into a position to get a new loan in as little as only a few months after your short sale. If you did a short sale and had to pay anything to Fannie Mae in California you may be due a refund.

We have a down payment assistance fund that can give you 5% of the sales price as a gift to buy a home under $ 500000.00 in Southern California. This is coupled with a FHA loan.

You read that right: some loan programs allow you to get into a new mortgage loan in as little as 12 months after a short sale and you may not even need a down payment.


  1. You don’t need statistics to tell you that Americans are anxious about
    their finances. Keep the worry out of mortgages by following these three suggestions.
    Americans are worried. According to a recent report by the Rockefeller Foundation,
    93 percent of households suffered a minimum of one “substantial economic shock”
    between March 2008 and September 2009. And, in the summer of 2010, more than 70
    percent of Americans were worried about losing their jobs.

  2. George You are correct the most Americans feel stress and fear about their financial future. The concept that we could just up and move for a new job is not so easy. I see more homeless women on all corners of the exits for Wallmart than I have ever experienced in my lifetime. Can I just join a wagon train and move to Georgia where my dear heart took a better job? not really I am saddled with a underwater house and I am sole support of my own children. I can not leave my job.
    Will this turn around? Yes but perhaps not for years... all we can do is to keep working, be steadfast and honest and share a little with others.