I was told that a short seller has to wait 4 years to get a new conventional loan. i have a buyer who i helped with a short sale about 25 months ago. The 1st lender was Am-trust (FNMA backed) and the 2nd was Country-wide. The seller stopped making payments during the process. Now my seller wants to be a buyer. We knew he could not go FHA because he would have to wait 3 years and we are 11 months short. Then we tried Conventional but my lender says it will take 4 years from a short sale to get conventional financing. Is that True? I read 2 years from the CDPE literature.

Please post your help comments.

Mike Sher