In the wake of the housing crisis, many California families are still grappling with the aftermath of short sale or foreclosure; however, the new Flexible Credit Program offered by CFS Mortgage Corporation can help home owners who recently opted for a short sale have a second chance at home ownership. In the past, a short sale resulted in a long waiting period for most home owners before it was possible for them to re-enter the housing market. The Flexible Credit Program is transforming the process of recovery after a short sale, making it easy for California home owners to take advantage of the hot deals now on the market.
The California housing market is making significant strides toward recovery, which is why many home owners who experienced short sales are particularly interest in home ownership once again. Record-low mortgage rates make home ownership more affordable than ever, and as California home values continue to rise, many potential buyers want to take advantage of the last homes priced to sell before the median home value climbs even higher.
After a short sale, some home owners may not have enough cash on hand to afford a large down payment on a future home. By using the CFS Mortgage Flexible Credit Program, it’s easy to get a mortgage after short sale without a large reserve of funds in the bank. Only 25% down payment is required for the Flexible Credit Program in order to qualify for home loans after short sale, which is markedly less than is required for a down payment by other mortgage lending companies in California.
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Another advantage of the Flexible Credit Program is that it requires a credit score of just 600 to qualify for financing after short sale, which means that home owners can easily move into a new property while still working to rebuild their credit after a short sale. Luckily, short sales cause much less of an impact to credit scores than foreclosures; however, they still may make it difficult for some potential buyers to secure financing after a short sale. The California economy is making a comeback, and CFS Mortgage allows home owners to take advantage of new beginnings in a better economic climate through the Flexible Credit Program.
Prices of California homes are quickly accelerating, and the median home value has increased by a double-digit percentage in just one year. Now is the perfect time to invest in California real estate, and the CFS Mortgage Flexible Credit program allows home owners to buy a home in as little as one day after a short sale or foreclosure. In comparison, most buyers have to wait a minimum of two or three years to qualify for financing after a short sale.
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Plus, CFS Mortgage allows home owners to take advantage of the Flexible Credit Program just six months after a bankruptcy discharge. During the recession, many individuals were unable to make their mortgage payments due to economic circumstances beyond their control; the CFS Flexible Credit Program allows home owners to rebuild their finances while living in one of the many affordable California homes currently on the market. Please contact us if you’d like more information on the Flexible Credit Program.
We’d love to use our resources to help you achieve your dream of owning a home after a short sale.
