Could I get another loan for a foreclosure while I’m doing a short sale on my original home?

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4 Responses to Could I get another loan for a foreclosure while I’m doing a short sale on my original home?

  1. Caffeinated Content – Members-Only Content for WordPress

    duh no. You are a deadbeat and it will show on the credit report. You will need to wait at least 3 years.

  2. Caffeinated Content

    Yes, but the question is will you get approved? They will see the lien/note on the first house and inquire into it. If you have plenty of capital then it won’t be a problem. But I would rent first for at least a year and get your ducks in a row.

    Have you considered that the short sale will not get approved by your bank? But then you bought another house but still have to pay the mortgage on the first? It could get complicated and you could end up with two mortgages.

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