Mortgage After Foreclosure

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Mortgage After Foreclosure 2017-08-04T05:16:25+00:00
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Getting a Mortgage After Foreclosure

Nice home under foreclosure

You will need to wait 3 years from the date your property was sold at auction. This will be public record, so any title company can pull up this information and give to us at Marketplace Home Mortgage.  However, it may not be as difficult as you think to get a mortgage after foreclosure.

If for some reason you want to buy a home way before that 3 year anniversary, and have at least 35-40% to put down on a home, I would suggest a private money or hard money loan. This is a short term loan of 5 years, however, it would give your foreclosure time to season, and you would be able to refinance into a better loan.

Getting a Mortgage Loan After a Short Sale

The rules have changed on this. Many people will tell you 3 years. Not true. How long then? 1 day. Hahah. You must be kidding. No. Really, however, there are some moving parts here that you need to pay attention to if you are considering short selling your home.

  • You cannot go 30 days late
  • You cannot sell the home to take advantage of declining market conditions
  • purchase, at a reduced price, a similar or superior property within a reasonable commuting distance
  • The proceeds of the short sale serve as payment in full to a previous lender, and they release you of any shortfall

For a detailed analysis of your current situation with regards to getting a mortgage after foreclosure or a short sale, please fill in some basic information below, and we will get back with you shortly.

Brian Quigley Denver Mortgage Broker Profile Photo

Hello, my name is Brian Quigley and I have been in the Denver mortgage industry since 2003. I have been fortunate enough to choose this very rewarding mortgage broker career and help thousands of borrowers over the years. Customer satisfaction is important to me most, and getting my clients to the closing table smoothly. Read More…

★★★★★
5 5 1
Brian was absolutely great to work with. He was great to get back to us with anything or questions. Brian had the options to solve our refinancing issues. We highly recommend Brian and his team. Brian will be our first contact person for our real estate financing options.

★★★★★
5 5 1
I worked with Brian on some real estate transactions to help my buyers/ clients. Brian is very professional and helpful. Brian can solve problems and get thru difficult situations. Brian can guide you thru the process. I highly recommend Brian to provide mortgage services.

★★★★★
5 5 1
I am an attorney. I got caught in a problem with a Chapter 13 that only a professional, experienced mortgage broker could figure out. The man is just smart. (Not the"salesman" type I normally see with brokers). I watched, in solemn amazement, how Brian and his team got a loan for my clients, by figuring out a vary complex problem. Brian made it happen. He is my "go to" mortgage broker.
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