We’re often asked the question, “Can I pursue a short sale during my bankruptcy”. Lenders can review a short sale offer while the loan is in active bankruptcy. However, to complete a short sale and issue an approval letter, the bankruptcy documents must be filed and approved by the court. Any final agreement will require bankruptcy […]
Tag Archives: Foreclosure
FHA Reduces Waiting Period for Borrowers Who Experienced a Short Sale, Foreclosure or Deed-In-Lieu
The Federal Housing Administration (FHA) is allowing borrowers who went through a bankruptcy, foreclosure, deed-in-lieu, or short sale to re-enter the market and purchase a home using an FHA insured mortgage in as little as 12 months, according to a mortgage letter released Friday 8/23/13. Currently borrowers who experienced a foreclosure, deed-in-lieu, or short sale must […]
