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Short Sale – Keep Payments Current Until Short Sale Date

A Short Seller (people who sell their homes for less than they owe against the home) can get FHA financing right after a short sale IF they keep their payments current right up to the date of the short sale. This is big news from FHA, as there used to be at least a 2 year seasoning period necessary after a short sale.

Also, according to some short sale experts, it is a myth that banks are more likely to accept a short sale proposal if a borrower stops making payments. They are, in fact, more likely to accept a proposal if a buyer is current.

Lastly, if a short seller remains current with his payments, the affect on his credit and credit scores will be far less severe.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167