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Last year I was divorced and could not afford the home I had and needed to to a Short Sale. How long do I have to wait until I can purchase another home. My ex did not pay for the home for six months. The house was sold. Any ideas of a timeframe. I am living in a house that I want to purchase and the agreed upon price leaved me with about 80 to 90K in equity. The house belonged to my mother who agreed to sell it to me. Any body got a time frame?

3 REPLIES

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We were told 2 years after we sold our house after 2 years in a short sale. Check the realty law in your state, may vary state to state.
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From what I was told, you have to wait at least two years before you're able to be considered for a home loan. Went through the same thing last spring.
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My husband had a home before we were married a year ago. Now we want to have a home we bought and his name can go on the deed but not on the mortgage application because he short-sold his home in Jan 2013. I was told that he could not apply for at least 3 years from the time of the short sale. I'm not happy because I could use showing his income. He earns more than I do. This was my personal experience recently. We currently have our current residence up for sale.