Most people don't realize that a Maine short sale seller can qualify for a mortgage immediately after completing the sale. A few criteria must fit:
- Seller must not have been late on the mortgage or any consumer debts within a 12 month period preceding the short sale
- Seller cannot be taking advantage of declining conditions
For sellers with late payments prior to the short sale then they are looking at a 24 month wait period.
Other credit and income criteria are going to be looked at as well during the application process.
