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.
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