I am a real estate professional who helped a client short sale their home. I had them contact an attorney firm to negotiate and advise them regarding the short sale process. We went to a seminar conducted by this company where they were told that if they made all their payments on time to their current mortgage company they would be able to buy a new home immediately after the short sale. They did all that they were told to do. We started looking for a new home for them once they were back on their feet financially their credit scores qualified them to buy a new home. Just as a side note while they were waiting to be able to buy again they lost their four year old son to a tragic accident making it doubly important for this family to start over again. We went thru the loan process only to find out that because the attorneys had advised my clients to sign a pre-foreclosure agreement even though in order to qualify for that program you needed to be a minimum of 31 days late on your mortgage payment and they were not. They signed this and now because of that FHA will not allow them to finance another FHA mortgage for 3 years. This was never disclosed to them had they known they never would have signed that document. We had one loan company turn us down for financing and another told us they could do it so they spent the money on inspections etc. only to be turned down yet again evidently that company did not understand fha rules. Can you help???
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