A sheriff's sale is a public auction at which property that has been repossessed is sold by court order in order to compensate unpaid creditors.
How long after a short sale can you buy again?
Minimum waiting period to get a mortgage after a short sale
|Minimum waiting period
|2-4 years with exceptions
|3 years with exceptions
|2 years with exceptions
How long does a short sale stay on credit?
Short sales, like foreclosures, can remain on your credit report for as long as seven years. The silver lining with short sales is that your score is likely to begin improving more quickly, usually in about two years. But there are things you can do to speed the process.
What is the waiting period after a short sale for Fannie Mae?
A seven-year waiting period is required, and is measured from the completion date of the foreclosure action as reported on the credit report or other foreclosure documents provided by the borrower.
What are the rules for FHA loan after short sale?
Yes, you can get another FHA loan after you sell your house, even if it was through a Short Sale. FHA requires that at least three years have passed from the date of the short sale before getting a new mortgage. Under certain extenuating circumstances, it is possible to buy in less than three years.