Anonymous
Post 06/30/2012 10:15     Subject: Re:Buying again after short sale
We can easily save 20% or 30% for down payment, but my question is whether a bank will loan us the other 70-80%.
Anonymous
Post 06/30/2012 10:07     Subject: Re:Buying again after short sale
Anonymous wrote:Unfortunately my husband is the high earner - he makes around $500K and I make about $100K.


Are you looking to buy because it's just such a good time, or can you get a cheapo rental and stock away cash until you have a fat down payment? At those incomes you should be able to get to 20% pretty fast.
Anonymous
Post 06/30/2012 09:59     Subject: Re:Buying again after short sale
Unfortunately my husband is the high earner - he makes around $500K and I make about $100K.
Anonymous
Post 06/30/2012 09:44     Subject: Buying again after short sale
What is the income breakdown you could try to qualify on your own because your score is pretty good in the 730s
Anonymous
Post 06/30/2012 09:42     Subject: Buying again after short sale
Some banks have phsician mortgages other than that you kiht be able to qualify for fha
Anonymous
Post 06/30/2012 08:45     Subject: Buying again after short sale
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:What are your credit scores?


Mine is 737 and husband's is 683.


Unless you can afford the place on your own income, you won't be able to. No bank will touch your dh with that credit.


My dh had credit barely above 630. We were able to get a 300 k mortgage and paid the other half in cash. So if you can put doen a huge hunk of cash, you can buy.
Anonymous
Post 06/30/2012 08:04     Subject: Re:Buying again after short sale
Anonymous wrote:
Anonymous wrote:I'm a lawyer and husband is physician.


And your credit scores are THAT low?

damn!

My husband and I are teachers and ours at maybe a point or two away from the max.



PP, not the OP, but have you and your husband had a short sale? Some of us actually got hit by the recession. Enjoy your teaching jobs as long as you have them. Still more layoffs expected in that sector.
Anonymous
Post 06/30/2012 07:58     Subject: Buying again after short sale
Anonymous wrote:
Anonymous wrote:What are your credit scores?


Mine is 737 and husband's is 683.


Unless you can afford the place on your own income, you won't be able to. No bank will touch your dh with that credit.
Anonymous
Post 06/30/2012 07:40     Subject: Re:Buying again after short sale
Anonymous wrote:I'm a lawyer and husband is physician.


And your credit scores are THAT low?

damn!

My husband and I are teachers and ours at maybe a point or two away from the max.

Anonymous
Post 06/29/2012 23:13     Subject: Re:Buying again after short sale
I'm a lawyer and husband is physician.
Anonymous
Post 06/29/2012 23:03     Subject: Buying again after short sale
For
Anonymous wrote:My husband and I completed a short sale in May 2011. We had a house in another state that had been on the market for 3 years with no offers. Other than a 30 day late the month of the closing, we were current on payments. How soon can we purchase again? Our income is about $600K per year now (it was NOT anywhere near that at the time of short sale).


What line of work are you in because banks do give special mortgage loans for doctors, business owners , lawyers etc...
Anonymous
Post 06/29/2012 22:48     Subject: Buying again after short sale
Anonymous wrote:What are your credit scores?


Mine is 737 and husband's is 683.
Anonymous
Post 06/29/2012 22:33     Subject: Re:Buying again after short sale
Three years. We also sold our house as a short sale. Excellent credit scores before then. We are renting now. We expect our credit scores to be respectable after 3 years.
Anonymous
Post 06/29/2012 21:58     Subject: Buying again after short sale
What are your credit scores?
Anonymous
Post 06/29/2012 21:34     Subject: Buying again after short sale
My husband and I completed a short sale in May 2011. We had a house in another state that had been on the market for 3 years with no offers. Other than a 30 day late the month of the closing, we were current on payments. How soon can we purchase again? Our income is about $600K per year now (it was NOT anywhere near that at the time of short sale).