How long do potential buyers need to wait after a BANKRUPTCY, FORECLOSURE or SHORT SALE before obtaining financing?
Once you make the big decision to short sale or foreclose, the looming questions seems to be: “What happens now?” Unlike common belief, it is not the end of your credit life. Depending on your circumstances you do have options. Assuming you have re-established credit post bankruptcy, forecloseure or short sale, here are the typical timelines available for obtaining finiancing:
Of course, there’s a lot more to understanding your options than just a timeline. To really handle your personal situation as best as possible it is always important to work with an educated and experienced Realtor. Other ways to gain knowledge are to scope the internet and read through sites such as http://www.shortsalearizonarealtors.com. Whatever your situation, it’s most important to gather information and know your options!
