The last few years have been financially difficult for millions of homeowners, with job losses and decline in home values devastating families all over the US. As a result, a great number of homes have gone through short sales, which has had a detrimental effect on consumers' credit ratings.
If you've considered or experienced a short sale, one of the biggest concerns you may have is how it will impact your ability to purchase another property in the future. Here are five key variables on how a short sale can impact your next home purchase.
Duration Of Delinquency Plays A Big Role
Short sale transactions take a long time to complete, depending on the state that you live in and the bank's policies. During this process, homeowners in a short sale