If you have had a short sale and prior to the short sale you were late on your paments, then you will need to wait 3 years before applying for a home mortgage loan. What if you were not late on your mortgage payments prior to the short sale? Well this answer all depends upon the underwriter who is approving your loan and the investor who is buying your loan.  Some underwriters enforce the rule that if you are selling a home and buying a new home the distance between the homes needs to be at least 50 miles.  Than some of the large investors simply refuse to buy the loan at all.  Too  many people...

Have you filed for bankruptcy in the past?  Are you confused about how long you need to wait to reapply for a new home mortgage loan? If you have had a bankrutpcy  you will need to wait 2 years from the discharge date on your paperwork.  You also need to make sure that you have not had any late payments since your bankruptcy.  If you’ve had late payments most of the A paper lenders will not loan you any money.  We maybe able to find a few other investors that will lend but your interest rate and the banks uderwriting fee is going to be high.  Therefore, don’t expect to be quoted the...

Are you like many people who have been foreclosed on a home?  Are you confused about how long you need to wait to reapply for a new home mortgage loan? If you have had a foreclosure on a property, you need to wait three years before reapplying for a home mortgage loan. While you are waiting to reapply for a home mortgage loans, you can work on cleaning up your credit report.  If you have any tax liens, they will need to be paid off.    If you have any collection items over $200 that are not medically related than you will need to pay these items off.  Remember the higher your credit score the...

Are you confused about the entire loan process? Do you think you will never be able to afford your down payment and closing cost funds to be able to purchase a home? Think again. NWM is company that specializes in walking you through the entire loan process. They will analyze your credit report and provide suggestions on how to raise your credit score. Better yet, they will give you practical tips, tools, and techniques that will help you save money in your everyday life to be applied towards your down payment and your closing cost. Saving for your down payment is like trying to loose weight. It...

MSA Name MSA Code Division County Name County Code State One-Family Two-Family Three-Family Four-Family Median Sale Price Last Revised Limit Year NON-METRO 99999 APACHE 001 AZ $271,050 $347,000 $419,425 $521,250 $90,000 Oct 1, 2011 – Dec 31, 2011 SIERRA VISTA-DOUGLAS, AZ (MICRO) 43420 COCHISE 003 AZ $271,050 $347,000 $419,425 $521,250 $150,000 Oct 1, 2011 – Dec 31, 2011 FLAGSTAFF, AZ (MSA) 22380 COCONINO 005 AZ $362,250 $463,750 $560,550 $696,650 $265,000 Oct 1, 2011 – Dec 31, 2011 PAYSON, AZ (MICRO) 37740 GILA 007 AZ $271,050 $347,000 $419,425 $521,250 $141,000 Oct...