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Small Business Investing

Not just for the purpose of making an investment ( although you should consider it) but to make you aware of how financing works for people that have lost their home, either in a short sale or by the bank taking it back.

Waiting Periods to Finance                    Fannie Mae                               Freddie Mac                    FHA

Deed-in-Lieu of foreclosure                   2 years -80% MAX LTV                  4 years                 3 years from completion

short sale, pre-foreclosure                   4 years-90% Max LTV     


foreclosure Sale                            7 years from completion         5 years from completion    3 years from completion

Chapter 7 bankruptcy                4 years from discharge           4 years from discharge       2 years from discharge


chapter 13   bankruptcy             2 years from discharge     2 years from discharge         minimum history of 1 yr


In all cases Borrowers must reestablish their credit

jumbo loans require 5 years since foreclosure or short sale

The rental market is as good as I have seen it. With all the short sales and foreclosures, the previous owners now have to rent since they cannot buy. Homes are still selling at distressed prices and many rental properties offer a good cash flow.

I believe that we will, unfortunately, continue to see homes being lost and the need for rental properties will continue. Before you buy, know the area and the needed reserves to successfully become a landlord.

Please call me for more information on this opportunity.


Have a great day!

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