How soon you can buy a new property after a West Sacramento short Sale?

We get asked this question quite frequently when helping families with their West Sacramento short sale and the answer really is – it depends. It depends on how well you take care of the rest of your credit, it depends on your debt to income ratios and it depends on all the other criteria that goes into getting a home loan.

All things being equal, you can usually purchase a new West Sacramento home in 2-3 years after your West Sacramento short sale.

You see, it is really not the West Sacramento short sale that hurts your credit, it is the missed payments. The West Sacramento short sale itself is a minor 30-50 hit to your FICO scores and usually falls off in 12-18 months. Now, if you are relocating more than 90 miles away and are never late, you can get a new loan immediately. Something to think about if you are looking at a job transfer.

It is good to know that just in the last month alone we helped a VA buyer get into a new home. They had completed a short sale about 24 months prior, took good care of their credit and made sure they did not have excessive or outstanding debt. We were able to get them into a great four bedroom home, bigger than their rental and in the end were paying less than they were previously paying for rent – How Great is that?

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation. Call me today and sleep better tonight; you’ll be glad you did