Buy a Home in Temecula 1 year after Bankruptcy, Foreclosure or Shortsale

Over the past few years, the real estate market has gone through so many changes and homeowners with it. Homeowners have had to file bankruptcy, and go through the stressful process of short sales and foreclosures. Typically, the wait to buy again has been 3-7 years.

Now HUD, has announced a new program available to home buyers with a shorter waiting period after a bankruptcy, foreclosure, or short sale. The wait has been reduced to 1 year with certain requirements.

• Must be a home purchase
• Buyer must complete their required counseling 30 days prior to applying for a loan.
• The bankruptcy, foreclosure, or short sale MUST be directly related to the loss of a job or a 20% drop in income for at least 6 months. 
• Credit must have been satisfactory before the bankruptcy, foreclosure, or short sale and be satisfactory for a minimum of 12 months after the event.

If you would like to see if you meet these requirements, call me today. I can introduce you to a lender that can help. Don't wait as program requirements can change and I would love to help you get into your new home.

Sonya Sanders

REALTOR 01315150

760-458-7195 cell