From Our Blog

Buying After A Shortsale

Now that credit markets have tightened and formerly well-qualified buyers are being turned away by lenders, people looking to purchase again after short-selling their home are wondering just what it takes to get a loan. “The focus should be on restoration of their credit,” says Dan Hrey, a lender with Bank of America. “A short sale can shave 100 points off of a person’s score and it typically isn’t the only credit issue that we need to work through,” he says, referencing late credit card or auto loan payments that he often sees on a short seller’s credit history. In our luxury market where jumbo loans (those over $417,000) are [...] read more