The nation's economic disaster has lasted long enough that a portion of those who lost their homes are asking "how long must I wait before buying again?".
As supply diminished by the demand placed on the rental market the cost to rent has increased significantly. The high prices have left many who are now economically stable asking how long do we have to rent?
There is no easy answer to the question. It will depend on the individual circumstances of what caused the default and the end result. Was your resolution short sale, foreclosure or bankruptcy?
If a short sale was caused by job lost or illness the waiting period to purchase a home again is about 2 years. However, if your past includes a foreclosure the wait is longer. Especially if you do not have an illness or job loss as a reason for the default.
If you find yourself currently going through the process do everything in your power to resolve the situation with a short sale instead of a foreclosure.
About Me
- Maria E Brackett
- Hialeah, Fl, United States
- Serving the South Florida Market since 1974. FIU BBA 74 and MSM RE 78. Miami Association of Realtors 2011 Governors Board of Directors. Largest Realtor Board in the Nation. Northwestern Dade Association of Realtors 2007 and 2011 President. Florida Realtors 2006-07, 2010-11 Director. Member of the National Association of Realtors. Owner - LandPro International
ELAN Construction, Inc.
Great General Contractor
Tactically Sharp, Inc.
NRA Certifed Instructor
Homeland Security
Advisory System
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