{"id":3805,"date":"2015-03-19T08:00:28","date_gmt":"2015-03-19T14:00:28","guid":{"rendered":"http:\/\/www.richmondamerican.com\/blog\/?p=3805"},"modified":"2024-01-05T08:37:00","modified_gmt":"2024-01-05T15:37:00","slug":"getting-prequalified-after-bankruptcy-foreclosure-or-short-sale","status":"publish","type":"post","link":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/","title":{"rendered":"Getting Prequalified After Bankruptcy, Foreclosure or Short Sale"},"content":{"rendered":"<p>Life sometimes takes us on unexpected journeys. You may think you&#8217;re heading in one direction and then\u2014surprise\u2014you&#8217;re on a completely different path. For example, if you experience a major credit event, such as a bankruptcy, foreclosure or short sale, your credit score can be severely impacted, which can affect your chances at qualifying for a mortgage loan. Chances are you&#8217;ll eventually be able to consider home buying\u2014but it might take a little longer than usual. So, what can you do if you find yourself in this situation? First, relax. And then\u2026<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg\" alt=\"Getting prequalified after a major credit event\" title=\"Getting prequalified for a mortgage\" class=\"alignnone\" style=\"float: right; padding-left: 15px; padding-top: 20px; padding-bottom: 10px;\" height=\"200\" width=\"300\" \/><\/p>\n<p><strong>Determine your wait time.<\/strong><br \/>\nEven after you&#8217;ve reorganized your finances and <a title=\"reestablished your credit\" href=\"https:\/\/www.richmondamerican.com\/blog\/5-ways-to-help-maintain-or-improve-your-credit-score\/\" target=\"_blank\" rel=\"noopener\">reestablished your credit<\/a>, you\u2019ll probably have a waiting period before you can arrange new financing. However, that waiting period may be shorter than you think. Different types of loans have different waiting periods, eligibility requirements and guidelines. FHA loans, for example, can have shorter waiting periods than conventional loans because the credit guidelines can be more forgiving. Of course, everyone\u2019s situation is unique, so it\u2019s best to contact a loan officer to learn your options.<\/p>\n<p><strong>Dig out those documents.<\/strong><br \/>\nExtra documents may be required during your loan application if you have a major credit event in your past. In addition to all the <a title=\"usual items\" href=\"https:\/\/www.richmondamerican.com\/blog\/a-mortgage-loan-checklist-paperwork-to-prepare\/\" target=\"_blank\" rel=\"noopener\">usual items you\u2019d need to process mortgage paperwork<\/a>, you&#8217;ll also need to bring any applicable documentation from your bankruptcy, short sale or foreclosure. These may include:<\/p>\n<ul>\n<li>Bankruptcy records, discharge receipts and\/or repayment statements<\/li>\n<li>The HUD-1 Settlement Statement you received after a short sale, plus a statement from your previous lender indicating your mortgage is considered paid in full<\/li>\n<li>A Trustee\u2019s Deed or similar document verifying when your foreclosure was complete<\/li>\n<\/ul>\n<p><strong>Get more information.<\/strong><br \/>\nThere\u2019s always a silver lining if you\u2019re willing to look for it, qualifying for a mortgage loan after an unfortunate event is no exception. As you begin to research the possibilities that lie ahead for you, you\u2019ll surely find lots of relevant information. You can start by downloading our helpful guide: <a title=\"Buying a House After Bankruptcy, Foreclosure or Short Sale\" href=\"https:\/\/www.richmondamerican.com\/Campaigns\/4\/\" target=\"_blank\" rel=\"noopener\">Buying a House After Bankruptcy, Foreclosure or Short Sale<\/a>. And, you can always contact our affiliate, <a title=\"HomeAmerican Mortgage Corporation\" href=\"http:\/\/www.homeamericanmortgage.com\/\" target=\"_blank\" rel=\"noopener\">HomeAmerican Mortgage Corporation<\/a>, to help you sort through the particulars of the process. Call <strong>866-400-7126<\/strong> today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Life sometimes takes us on unexpected journeys. You may think you&#8217;re heading in one direction and then\u2014surprise\u2014you&#8217;re on a completely different path. For example, if you experience a major credit event, such as a bankruptcy, foreclosure or short sale, your credit score can be severely impacted, which can affect your chances at qualifying for a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"ub_ctt_via":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[2,4],"tags":[381,206],"featured_image_src":null,"author_info":{"display_name":"rahblogadmin","author_link":"https:\/\/www.richmondamerican.com\/blog\/author\/rahblogadmin\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Getting Prequalified After Bankruptcy, Foreclosure or Short Sale<\/title>\r\n<meta name=\"description\" content=\"There\u2019s always a silver lining if you\u2019re willing to look for it, getting prequalified for a mortgage loan after an unfortunate event is no exception\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Getting Prequalified After Bankruptcy, Foreclosure or Short Sale\" \/>\r\n<meta property=\"og:description\" content=\"There\u2019s always a silver lining if you\u2019re willing to look for it, getting prequalified for a mortgage loan after an unfortunate event is no exception\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Richmond American Homes Blog\" \/>\r\n<meta property=\"article:published_time\" content=\"2015-03-19T14:00:28+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2024-01-05T15:37:00+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg\" \/>\r\n<meta name=\"author\" content=\"rahblogadmin\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rahblogadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/\",\"url\":\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/\",\"name\":\"Getting Prequalified After Bankruptcy, Foreclosure or Short Sale\",\"isPartOf\":{\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg\",\"datePublished\":\"2015-03-19T14:00:28+00:00\",\"dateModified\":\"2024-01-05T15:37:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/#\/schema\/person\/ac7090dbdce461390f3592d2191adfd8\"},\"description\":\"There\u2019s always a silver lining if you\u2019re willing to look for it, getting prequalified for a mortgage loan after an unfortunate event is no exception\",\"breadcrumb\":{\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#primaryimage\",\"url\":\"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg\",\"contentUrl\":\"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.richmondamerican.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Getting Prequalified After Bankruptcy, Foreclosure or Short Sale\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/#website\",\"url\":\"https:\/\/www.richmondamerican.com\/blog\/\",\"name\":\"Richmond American Homes Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.richmondamerican.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/#\/schema\/person\/ac7090dbdce461390f3592d2191adfd8\",\"name\":\"rahblogadmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.richmondamerican.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/625196274d1a8f127802d0e43cdb59ba?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/625196274d1a8f127802d0e43cdb59ba?s=96&d=mm&r=g\",\"caption\":\"rahblogadmin\"},\"url\":\"https:\/\/www.richmondamerican.com\/blog\/author\/rahblogadmin\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Getting Prequalified After Bankruptcy, Foreclosure or Short Sale","description":"There\u2019s always a silver lining if you\u2019re willing to look for it, getting prequalified for a mortgage loan after an unfortunate event is no exception","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/","og_locale":"en_US","og_type":"article","og_title":"Getting Prequalified After Bankruptcy, Foreclosure or Short Sale","og_description":"There\u2019s always a silver lining if you\u2019re willing to look for it, getting prequalified for a mortgage loan after an unfortunate event is no exception","og_url":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/","og_site_name":"Richmond American Homes Blog","article_published_time":"2015-03-19T14:00:28+00:00","article_modified_time":"2024-01-05T15:37:00+00:00","og_image":[{"url":"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg"}],"author":"rahblogadmin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rahblogadmin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/","url":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/","name":"Getting Prequalified After Bankruptcy, Foreclosure or Short Sale","isPartOf":{"@id":"https:\/\/www.richmondamerican.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#primaryimage"},"image":{"@id":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#primaryimage"},"thumbnailUrl":"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg","datePublished":"2015-03-19T14:00:28+00:00","dateModified":"2024-01-05T15:37:00+00:00","author":{"@id":"https:\/\/www.richmondamerican.com\/blog\/#\/schema\/person\/ac7090dbdce461390f3592d2191adfd8"},"description":"There\u2019s always a silver lining if you\u2019re willing to look for it, getting prequalified for a mortgage loan after an unfortunate event is no exception","breadcrumb":{"@id":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#primaryimage","url":"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg","contentUrl":"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2015\/03\/Prequalified-after-credit-event-300x200.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.richmondamerican.com\/blog\/getting-prequalified-after-bankruptcy-foreclosure-or-short-sale\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.richmondamerican.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Getting Prequalified After Bankruptcy, Foreclosure or Short Sale"}]},{"@type":"WebSite","@id":"https:\/\/www.richmondamerican.com\/blog\/#website","url":"https:\/\/www.richmondamerican.com\/blog\/","name":"Richmond American Homes Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.richmondamerican.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.richmondamerican.com\/blog\/#\/schema\/person\/ac7090dbdce461390f3592d2191adfd8","name":"rahblogadmin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.richmondamerican.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/625196274d1a8f127802d0e43cdb59ba?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/625196274d1a8f127802d0e43cdb59ba?s=96&d=mm&r=g","caption":"rahblogadmin"},"url":"https:\/\/www.richmondamerican.com\/blog\/author\/rahblogadmin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/posts\/3805"}],"collection":[{"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/comments?post=3805"}],"version-history":[{"count":1,"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/posts\/3805\/revisions"}],"predecessor-version":[{"id":26955,"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/posts\/3805\/revisions\/26955"}],"wp:attachment":[{"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/media?parent=3805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/categories?post=3805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.richmondamerican.com\/blog\/wp-json\/wp\/v2\/tags?post=3805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}