Oakland Home Buyer Stories: Previous Short Sale Didn’t Prevent Home Buyer Happiness

We just worked with a couple who were priced out of the City, and became interested in the East Bay. They found a wonderful home in Montclair – 3 bedrooms, 2.5 baths, 2300 square feet for under $850,000. How would they obtain financing when the husband’s credit was less than stellar, and the wife had just closed on a short sale two years ago? First, we made sure they would qualify based solely on the wife’s income, and left the husband off the loan, but still on the title.  Then, we verified that the short sale had taken place more than 24 months ago by obtaining a copy of their closing statement.  Because they had 20% as their down payment, we were able to get them a 30 year fixed rate mortgage at 4.5% with a rebate towards closing costs and closed escrow in 21 days. Our buyers were ecstatic! (“Thank you so much Natasha and Sara. You gals are the best!”)