West Sacramento Short Sale Information – Can My Spouse Buy Right After a Citi Bank Short Sale?

West Sacramento Short Sale Specialist,Default Advocate, Distressed Property Expert and West Sacramento Short Sale Agent Mike Rigley here bringing you the latest West Sacramento Short Sale Information. Thank you for joining us.

We got a call the other day from a homeowner considering a Citi Bank West Sacramento Short Sale. As is the case with many homeowners who refinanced or bought between 2003 and 2006, only one of the owners name was on the loan and title. The question was, since I am not on the title, “Can we short sale and buy right away under my name?” Now this brings up an interesting point. On its merits alone you would think this makes a lot of sense. It’s my spouse / significant other taking the hit why should I be punished too.

So let’s look at this. Not considering the several loan products our lender partners offer that allow you to buy one day after s Citi Bank West Sacramento Short Sale, the typical waiting period for a person to re-purchase in the same area after a Citi Bank West Sacramento Short Sale is 2-3 years. So the question is if my name is not on the loan or deed can I buy right away and the answer is generally no. Why you ask? The Banks tend to look at the situation and if there is a legal connection between the parties, be it marriage, registered domestic partners or other relationship the determination generally is that the party not on the deed / loan is considered to have enjoyed the benefits of living in the property even though they were not technically responsible for the debt. With that said most conventional lenders are going to require you to wait the 2-3 years. They are pretty much considering you guilty by association for lack of a better description.

Do keep in mind our lender partners have several proprietary products that allow a seller who completed a Citi Bank West Sacramento Short Sale to buy right away so if that is of interest to you, call me and we can discuss your options before you miss a payment.

Is a West Sacramento Short Sale Right for Me? Give me a call and let’s find out. We also offer a short sale lease back program for those who qualify allowing you to short sale and stay in your home. Call me for details

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 or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you’ll be glad you did.