How Long do I have to Wait for a Mortgage after Short Sale or Foreclosure?
All that changed during the period of 2008 – 2011 when millions lost their home, many as a result of no fault of their own. PMI companies began requiring alternatives to foreclosure, hence the short-sale boom.
PMI Waiting Periods after Foreclosure or Short Sale
Today there are many people who like me were forced to sell their home for less than they owed the bank on short-sale. People who like me have saved money for a down payment and who have overcome whatever housing event that was at the root of their personal financial crisis. Yet in spite of their financial recovery they are forced to wait in rental purgatory.
Angel Oak Home Loans has responded to the need for this group of people with the Home$ense Portfolio product. Click here to download a flyer or call or email to find out if you are eligible to buy a home in North Carolina after a short-sale without having to wait 2 or more years.