HOW CAN I BUY A HOME 1
DAY AFTER A MIAMI FLORIDA FORECLOSURE OR BANKRUPTCY- Many MIAMI FLORIDA home buyers who have gone
through foreclosure or MIAMI FLORIDA bankruptcy ask, “ how long do I have to
wait before I can purchase a home after a foreclosure or bankruptcy? If your
calling around mortgage brokers most MIAMI FLORIDA bad credit lenders won’t
even accept your application until a minimum 3 years.
WE
APPROVE MIAMI FLORIDA BORROWERS TO PURCHASE 1 DAY AFTER A MIAMI FLORIDA
FORECLOSURE SHORT SALE OR BANKRUPTCY FILING.
PORTFOLIO ADVANTAGES
INCLUDE:
One Day Out of Foreclosure, Short Sale or
Bankruptcy
Credit Scores Starting at 500
MIAMI FLORIDA Owner Occupied, 2nd Home or
Investment Properties
30 Year Fixed Mortgage with NO Prepayment
Penalty
Loans up to $750,000.00
Max Debt to Income is 50%
Max Loan to Value is 80%
Rates Start at 7.5%
Gift Funds are Allowed up to 6% On a Primary
Residence
Property Types Allowed - Single Family Home,
Townhome & Condo
24 Months Bank Statements Allowed For Self
Employed Borrowers
Foreign Nationals Allowed
Most borrowers understand that your credit
score takes hit after foreclosure or bankruptcy and they expect to pay slightly
higher interest rates for a bad credit mortgage. Smart bad credit
homebuyers see the value in buying VS renting and want to buy immediately after
a foreclosure or bankruptcy. Then after 2-3 years of timely payment history you
can get out of the refinance out of the bad credit MIAMI FLORIDA mortgage into
and FHA mortgage a the best rates available.
No Seasoning after a short sale or
foreclosure.
Up to 80% Loan to Value.
Credit Scores Start at 500
Loans up to 1 Million.
QUALIFYING FOR A BAD CREDIT MIAMI FLORIDA MORTGAGE AFTER
FORECLOSURE OR BANKRUPTCY- FHA mortgage loans are the most forgiving of of all loan
programs for MIAMI FLORIDA borrowers with recent bankruptcy or foreclosures. To
qualify for an FHA mortgage after a foreclosure, you must wait at least (3)
three years after the deed transfers out of your name. The three-year clock
starts ticking from the time deed to the foreclosure property is deeded to the
bank or the new owner. You will want to login the the MIAMI FLORIDA county
official records and do a deed search for your name. Save a copy of the deed
for the records. The FHA Mortgage Lender will need a copy to validate the 3
year FHA requirement.
QUALIFYING FOR AN FHA MORTGAGE AFTER CHAPTER 7 OR CHAPTER
13 BANKRUPTCY- If you suffered a chapter 7 bankruptcy you must wait a full 2
years after the bankruptcy. If you filed a chapter 13 you must wait a full 12
months and prove timely payment history. You may still qualify for a mortgage
during your chapter 13 with permission from the trustee.
QUALIFYING FOR A CONVENTIONAL FANNIE OR FREDDIE MAC LOAN
AFTER A FORECLOSURE - Prior to June 20, 2010, the waiting period for a Fannie Mae loan
following a foreclosure was (5) five years. Now, to qualify for a Fannie
Mae or Freddie Mac loan, you must wait at (7) least seven years after the deed
from the foreclosure was transferred out of your name.
