The Mortgage Connection

May 15th, 2014 | By | Category: The Mortgage Connection

Mortgage Calculator

Do mortgage lenders keep telling you that you have to wait before you are able to buy a home again? NOT US!

We have been helping families from all over the past year with an exclusive program that only WE offer. That’s right, we are the only lender in town that can help you purchase if you just had a recent short sale, foreclosure, or bankruptcy. We can get you into a home ONE day after a short sale or foreclosure and as little as 6 months after a bankruptcy. Might sound crazy but we can do it! Below is the standard guidelines mortgage lenders use to qualify a borrowers. All that is needed is twenty five percent down for this program and have a 600 credit score. Don’t have 25% down payment? That’s okay! Gift money is acceptable!

 

Foreclosure

Short Sale

Chapter 7

Chapter 13

Conventional

7 Years from Trustee Sale 2 Years with 20% Down
4 Years with 10% Down
7 Years for Full Eligibility
4 Years from Discharge or Dismissal Date 2 Years from Discharge
Date
4 Years from Dismissal Date

FHA

3 Years from Trustee Sale 3 Years from Sale; **No waiting period IF no Lates on Short Sale Mortgage 2 Years from Discharge Date 3 Years if the property was included in BK 1 Year of Payout with Satisfactory Payment Performance & Court Permission

VA

2 Years from Trustee Sale No waiting period with a clear CAIVRS 2 Years from Discharge Date 1 Year of Payout with Satisfactory Payment Performance & Court Permission

So ask yourself…WHY WAIT?! and BUY NOW!!

Please call me for more details or feel free to email me at: morgan@peoplesmortgage.com. Phone 520-954-7686. Visit my website
at www.MikeMorgan.biz or read about our company at www.peoplesmortgage.com

*Extenuating Circumstances may lessen waiting periods. Loan approval is subject to full credit, income and asset review. Fresh
Start Program requires 25% down payment. No prepayment penalty. Arizona and California Properties Only. Call to discuss full
terms and rates. Revised 3/27/13

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