Buying a home after a Default

Are you facing an Arizona Foreclosure or a possible Arizona Short Sale?  You may be wondering if you can purchase a home afterwards.  How long you may have to wait, or what the laws may say.

Well typically, after an Arizona Foreclosure you would have to wait to purchase a home using a Gov’t backed loan a min of 5-7 years.  After a short sale you would have to wait at least 2 years.

BUT….

Through an exclusive program now that I am able to offer my clients, you can purchase a home in Arizona immediately after a short sale, and in most cases after a foreclosure or bankruptcy.  Yes, you read that correct.  Immediately after.

There are some things to take into consideration.  If you are just starting your journey into a foreclosure or short sale, to keep your credit score as high as possible you want to try and avoid multiple missed mortgage payments.  Read about our short sales at our Arizona Short Sale info website.

If you have already gone through and completed a foreclosure or short sale, contact us to learn more about your possibilities, and to get set up with a VIP Real Estate Search or search the MLS on our Interactive Arizona MLS Search.

 

SOME TERMS to obtain a mortgage to purchase your New Arizona Home after a short sale or foreclosure:

– Be able to place 20% Down
– 620 minimum FICO, with at least 2 years of job history
– Loan Amount up to $675K
– Primary homes only

Again, There is hope!  Don’t Delay, contact Tim today to find out more and start the process to finding a new home.  It is the perfect time as home values are great for buyers!