Can I Get A Loan After A Bankruptcy, Short Sale, or Foreclosure?

Question:

“Hello ARC Capital”,

I am trying to find ways to help some of my clients…

Some of my clients are probably ready to buy at this time. Others have had a foreclosure, short sale and /or bankruptcy in the past 1,2,3 years.

I do not know if there is a possibility for them. Could you please help me and my clients get some information and possibilities and/or hope?

Thank you for your attention.”

(Submitted by a real estate agent)

Answer:

Mailbag: Loans for People with a Previous Bankruptcy, Short Sale, or Foreclosure

Scenario / Question:

“Hello ARC Capital”,

I am trying to find ways to help some of my clients…

Some of my clients are probably ready to buy at this time. Others have had a foreclosure, short sale and /or bankruptcy in the past 1,2,3 years.

I do not know if there is a possibility for them. Could you please help me and my clients get some information and possibilities and/or hope?

Thank you for your attention.”

(Submitted by a real estate agent)

Answer:

Sonoma County Home Values for May 2014

Market Stats - May 2014

Median Home Prices for May 2014 (Single Family Homes)

According to the Bay Area Real Estate Information Services, the median home prices for single family homes in Sonoma County increased to $484,500 for the month of May.

That’s a 14.9% increase in prices from May of 2013!  You can see the breakdown by city below.

Funded: $75,000 Private Money Loan in Kelseyville, CA (Lake County)

Kelseyville, CA – Lake County Loan Summary: Single Family Home 1,382 Square Feet, 2 Bedroom, 1.5 Bathroom $75,000 Loan Amount 54% Loan-to-Value The Funded Loans series is designed to give you a better idea of actual transactions we have recently closed. We hope the examples of different loan scenarios will help you get a better

Funded: $763,750 Private Money Loan in Walnut Creek, CA

Walnut Creek, CA – Contra Costa County Loan Summary: Single Family Home 3,056 Square Foot, 5 Bedroom, 3 Bathroom $763,750 Loan Amount 65% Loan-to-Value The Funded Loans series is designed to give you a better idea of actual transactions we have recently closed. We hope the examples of different loan scenarios will help you get

Funded: $234,500 Private Money Loan in Santa Rosa, CA (Sonoma County)

Santa Rosa, CA – Sonoma County Loan Summary: Single Family Home 3 Bedroom, 1 Bathroom $234,500 Loan Amount 70% Loan-to-Value The Funded Loans series is designed to give you a better idea of actual transactions we have recently closed. We hope the examples of different loan scenarios will help you get a better understanding of

How Lenders Calculate Your Rental Income

Private money loans in Santa Rosa, CA | Sonoma County | Hard Money

There’s no doubt about it. Cash flow is a good thing.

This article will explain how a mortgage lender or bank may view your rental income when you are applying for a new mortgage loan.

To keep things simple, I am using an example of a rental property with a monthly gross rental income of $1,000.

(Rental income before any expenses.)