The recent prolonged recession had a negative effect on the majority of Americans. Many lost their jobs and were no longer able to make mortgage payments so they either worked out a short sale with the company holding their mortgage or were forced into foreclosure. Many of these same people have been able to get back on their feet and are now interested in purchasing a home again. If you are one of those people you need to know when you will be eligible to qualify for a mortgage. The most important date to know is the date the title transferred out of your name and into someone else’s. The foreclosure proceedings could have started in 2008, but if the property wasn’t transferred until 2013 that is the time the clock starts ticking for mortgage qualification. Please feel free to contact me to help find out if you are eligible for a mortgage or when you may become eligible.
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