Pre Foreclosure?

This will take some review of your credit to determine how many mortgage lates are reported. Most lenders will want to see that there have been no mortgage lates in the past 12- 24 months. I do however work with a Portfolio Lender that offers common-sense underwriting and they will actually review your situation as case-by-case. So if it is a fit, a review of your current employment, financials and assets can offer some promising options.

How many months behind where you ?? 855 411 LEND Peter Savino

It depends on if they report it as a pre-foreclosure on your credit. Most lenders count this as a foreclosure on their guidelines. You need to make sure if they did report it that way then to push them to take it off. Usually after a short sale you qualify 2 years after with 20% down or 3 years for FHA.

If a Notice Of Default (NOD) was not filed then your credit report should just show your mortgage was past due 60, 90, or 120 days. I would recommend a thorough review of your credit profile by a licensed mortgage loan originator. Contact a mortgage banker or broker on this forum for best results.

If your old loan was paid in full, you will need to qualify by your credit score and late payment history only. Work on credit improvement, and work with a local mortgage broker when you are ready to buy again.

If your mortgage was 120 days or more late before the sale took place, (120 or +120) then the lenders will view your scenario the same as a foreclosure, and will adopt the same 3 year waiting period (FHA). Under conventional financing, they will allow you to purchase after 24 months, so long as your putting down 20% or more.... 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