Hi guys, we are short-selling our home. Under FHA guidelines we should have no waiting period (we will be current on the mortgage when the house sells and have never paid anything late). The reason for the short sale is a job transfer to another state. We want to try and buy a home in our new location right away but we're not sure how to find a lender who will not impose a waiting period. Do I just need to call around until I find someone?
It seems like this is a question they should be able to answer over the phone, right? "Hello, do you do FHA loans after a short sale with extenuating circumstances with no waiting period?"
I am worried they will want me to apply before they will answer me. I do not want to apply with umpteen different lenders! Our scores are good before the short sale (717 and 719) and I want to protect them as much as possible.
My employer has a location in the same area and is letting me transfer too, so there will be no income loss (80-100k depending on bonuses), and we will be looking for a house in the 200k range, which is lower-mid range for the area (better than a starter home, but not a mansion by any means).
