Previous foreclosure, short sale or bankruptcy! Feel you can't buy a house!
Well now you might be able to in Las Vegas. If you have lost a home to foreclosure, short sale or filed bankruptcy because of reduced income lasting over six month, you could qualify to buy again.
How does it work? There is a 12 month waiting period, your down payment can be as low at 3.5%, no income restriction and gift funds are permitted.
To qualify you must has experienced an economic event, which is any occurrence beyond your control that resulted in a loss of employment, loss of income or a combination of both. The event must have caused a reduction in household income by 20% or greater and lasted at least 6 months or longer.
You must have recovered from the economic even with the re-establishement of credit for a minimum of 12 months. You also have to attend housing counseling form an approved HUD Housing Counseling Agency for at least 30 days, but no more than six months, prior to submitting the loan application.
Call Real Estate Professional, Amanda Brown at Platinum Real Estate Professionals to find out more about the program, 702-496-7416
amandabrownlasvegas.com
No comments:
Post a Comment