Posts Tagged ‘short sale house’

House for Sale in Los Gatos Built in 1915

An attractive short sale Home for sale in Los Gatos is getting a lot of attention this week.   When a Million Dollar property is listed for under $800K that will happen.  Above Hi 17 the noise may be an issue for some or the old oil heating system, but a great price nonetheless.  Built in 1915 the character is built in.

first time buyer credit

Gov short sale guide

New FHA Short Sale Guidelines

home-seller-can-Short Sale-buy-los-gatos-house-fha You can now do a short sale on your home and buy a new home without waiting three years.   Prior to the new guidelines you were unable to buy a home with a FHA insured mortgage following a short sale of your primary residence. download FHA Guideline PDF

If you were current when your short sale is made you have every chance of buying a new home according to the new guidelines from the Department of Housing

from FHA guideline-

Borrowers are considered eligible for a new FHA-insured mortgage if, from the date of loan application for the new mortgage

  • All mortgage payments due on the prior mortgage were made within the month due for the 12 month period preceding the short sale, and
  • All installment debt payments for the same time period were also made within the month due.

Lenders are not allowed to approve  a new home purchase  if… Read the rest of this entry »