Qualifying to Buy After Selling Short

This information comes via Rosa Briggs of American Pacific Mortgage and felt it was important enough to share…”I wanted to get this news to you right away! Currently those buyers with a prior short sale can buy again in 2 years using a Conventional loan with 20% down. This is changing, effective August 16th (guidelines…

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Existing Homes Sales on the Rise

Sales of previously owned U.S. homes rose more than anticipated in August as investors used cash to buy distressed properties. (At a personal level, I have come across numerous homes in a distressed situation with multiple offers waiting for a lender’s decision. This is becoming more of the norm than the exception.) Purchases of existing…

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