Tag Archives: carlos avalos

Do I Have To Wait 7 Years To Buy a Home After Foreclosure?

Recent FHA Guidelines Change The Rules On Wait Times For Home Purchases After Foreclosure

There is a lot of good news in the Santa Clarita housing market. Home prices are up, mortgage rates are down, and many formerly “upside down” borrowers are once again seeing positive equity in their properties. We’re seeing a lot of positive signs elsewhere as well. Short Sales are down over 80%, and foreclosures have dropped over 50% since this time last year.

While it appears we’re well on the road to recovery real estate-wise, we know that many people have gone through a lot. We have helped many people avoid foreclosure through a short sale, and yet there were so many homeowners who, through no fault of their own, lost their home to the bank. The Great Recession affected many who struggled financially due to circumstances beyond their control. In many cases, those circumstances were temporary, and many are back on the path to a more financial future.

Are you ready to re-enter the housing market?

If you were one of the many who suffered setbacks as a result of the Great Recession and had short sold lost your home to foreclosure as a result, we have good news! Recent guideline changes from the Federal Housing Administration allows former homeowners the ability to wait only one year to purchase a home after going Continue reading Do I Have To Wait 7 Years To Buy a Home After Foreclosure?