Credit Repair: Short Sales

Credit Repair Series: Short Sales

Have you experienced a short sale, but are ready to buy a home again? The MAX Team has teamed up with Terry Beedle of Bay Equity Home Loans to teach you how to repair your credit reach your financial goals of homeownership once again.

The most important thing to know is that you have time. Not only do you need time to build your credit up, but mortgage lenders also require anywhere from 2-4 years before you can be approved for a home loan after going through a short sale. Think of this as a positive, as it allows you time to rebuild, organize, and strategize on your new goals.

Another positive is that if your short sale occurred from a loss of a job, health issues, or substantial injury lenders will take these things into consideration and help you get into a home quicker.

Now, you’re probably wondering, “Which loans will help me get a home quickest?”
– VA: 2 Years
– FHA: 4 Years
– Conventional: 3 Years

It’s important to remember, everyone’s situation is unique and will be remedied differently. Reach out to Terry Beedle or The MAX Team to find answers to any of your short sale or credit repair questions.

-The MAX Team

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