That varies by lender. Typically, you would be looking at a minimum of 2-3 years, posisbly as long as 4-5 years, again, depending on the lender, as well as your remaining VA eligibility after the short sale.
Mary, I am pretty sure there are some owner-financed homes in that area. That said, I am not at all familiar with that area, and, as a matter of doing what is best for you, would be willing to contact a top Long and Foster agent in that area to assist you. It always amazes me the agents who, due to greed, would work in areas well outside of their 'home' areas, in which they know nothing about the market. I have always felt that is a terrible disservice to the people who come to us, as agents, for assistance. If you would like me to do that for you, please feel free to contact me. Warmest Regards, Bill Beavers Long and Foster - Waldorf, MD
Hi Jill, Yes, you can find a place to rent. That said, your low credit scores may be an issue with some owners/landlords. My suggestion would be that you type up a very heartfelt letter, explaining, IN DETAIL, what happened to cause your credit scores to be low. This will not guarantee that any particular owner/landlord will accept you as a tenant, but, it will at least give you a good chance of being accepted. Again, be VERY DETAILED in the letter, using specific dates of when your hubby was laid off, how that affected your ability to pay your bills, what you have done to rectify the problem, AND, what you are hoping for as far as a chance to get your credit scores heading back up by being able to rent their beautiful home. Also, assuring them that you do have the financial wherewithall to make your payments on time. Also, if you are able, you may want to offer to pay an additonal month's rent up front, and/or, offer to have your rent payment set up on an automatic deposit every month from your bank account to the owner/landlord's bank account. If you want help finding a place, I would be happy to assist you. Hope everything works out for you. Regards, Bill
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