If I had to do a short sale on an investment property, will I be unable to refinance my primary residence?

You need to refinance first, then do your short sale.. However if there have been late payments of 30 days or more on the investment property, then it won't matter either way.. you won't be able to refinance for at least 2 years..I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

If you do not have any late payments we can finance you right away. With late payments you would need to wait 2 years with a Fannie Mae loan with 20% down. 3 years for an FHA loan. You may contact me for further clarification and options: 888-320-7888 - www.MortgagesforAmerica.org - Ken Burrows

The standard waiting period for after a short sale for purchase is:20% down 2 year wait.10% down 4 year wait.5% down 7 year wait.On a Refinance you would need to either come in with the amount equal to or have the equity reguired to meet the purchase timelines.

Definitely do the refinance first or you will complicate your options and likely make it impossible for at least a couple years. I can help with the refinance if you like (actually have an uncle in Naples). pdumouchel@primelending.com or direct 843.619.6025

Refinance first if possible but late payments on either property now could change that scenario. Your will be best to talk to a LOCAL lender to formulate your options and there are several on this site that can help you.

The short sale period for FHA is 3 years. For Fannie Mae it could be 5-7 years.

If the short sale has already occurred, then you will need to wait at least two years to be eligible to refinance any other property you own. The actual penalty period also depends on your level of equity. Some lenders will not refinance any properly for you until 7 years have passed. My advice is to work with a local Mortgage Banker/Broker to find out what your specific situation is and properly guide you to the lender/investor with a program that fits your needs. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

It could be 5 to 7 years.

Hello, I am in South FL. If no late payments on a (strategic) shortsale then you can refi anytime. If 1+ late then a solid 2 years for a fixed 30 yr mortgage. I can still refit you with 1+ late depending on your scores but it won't be for a 30 yr fxd. My rates with NO POINTS to you is 3.25%, you would need a min of 640+ on the credit and qualify with debt & income. I have 17+ yrs in this business, I am the owner of a mortgage company & we are close to Naples. Please feel free to contact me for a more in depth consultation. questions@forresttrust.com Thank you for the opportunity to assist you. Otto