QUESTION
Short sale after bankruptcy / qualify for a new mortgage ?
Asked on Nov 11th, 2011 on Bankruptcy - New Jersey
More details to this question:
The first and second mortgages were included in a bankruptcy that is now discharged. Afterward a modification was attempted several hundred times with the same results -denial- so I went to a short sale because I could not afford $2250 per month in interest only payments that will adjust when the mortgage matures. But now even though my job is steady and well paid, my credit score is back it seems I still have to suffer three years further after the sale is complete , how so I feel as though I did my share of suffering and attempting to make it right with the bank many many times, now what?
1 ANSWER
3 Awards
If your mortgages were discharged in bankruptcy there should have been no need for a short sale. There would have been no debt obligation. Please clarify. The waiting period to qualify for a loan backed by the federal government following a short sale is 2 years.
Answered on Nov 16th, 2011 at 8:53 PM