Mortgages in Barrington After Bankruptcy, Short Sale and Foreclosure
By Corinne Guest, Barrington Lifestyles
(Corinne Guest, REALTOR® | Barrington Realty Company)
No matter the type of distressed financial past you experienced, mortgages are available again to you. Whether you want to refinance a loan, perhaps to get out of an ARM, combine two loans into one fixed payment, get your rate down; or if it's time to downsize, right-size or even find a larger home there are some simple rules about when you can qualify for a new mortgage based on the date of your distressed event.Unlike credit reports that hold this information for up to 10 years, you don't have to wait that long for it to drop off the report before you can get a new mortgage. Your credit score will factor into your qualification and your interest rate.It should also be noted that a 20% down payment is not necessary, that jumbo mortgages are no different to conforming in relation to qua...
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