Have you had a Foreclosure, Bankruptcy, or a Short Sale? You CAN Buy Again!



Do you think just because you have had a foreclosure, bankruptcy or gone through a short sale that you can never purchase another home again? If you still have the dream of owning a home, don’t give up on that dream, there are some guidelines that may allow you to own a home again. Here are some of those guidelines:

Chapter 7 Bankruptcy

  • 2 years from discharge date or dismissal date


Chapter 13 Bankruptcy

  • 1 year of the payout period must have elapsed and payments must be made on time. Borrower must receive permission from the courts to enter into a mortgage


Foreclosure, Deed-In-Lieu of Foreclosure, Pre-Foreclosure, Short Sale or Prior Loan Modification

  • 3 years from completion date

There are also similar guidelines for Conventional loans, VA loans, and USDA Rural loans. Of course all situations are different, and speaking to a lender and having them look at all of your information is the best way to see if you are able to pre-qualify for another home loan. Please contact our preferred lender, Sue Pullen with Fairway Independent Mortgage, at 520-744-2292 or sue@pcMortgageAdvisor.com.

Sue Pullen
Licensed Mortgage Professional #206048
Fairway Independent Mortgage Corp.
5401 N. Oracle Rd., #101
Tucson, AZ  85704
BK #0904162