{"id":9018,"date":"2008-06-05T17:56:10","date_gmt":"2008-06-05T22:56:10","guid":{"rendered":"https:\/\/www.ewmrealestate.com\/blog\/2008\/06\/05\/financing-a-foreclosure-or-short-sale\/"},"modified":"2015-04-10T20:02:29","modified_gmt":"2015-04-10T20:02:29","slug":"financing-a-foreclosure-or-short-sale","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/financing-a-foreclosure-or-short-sale\/","title":{"rendered":"Financing a Foreclosure or Short Sale"},"content":{"rendered":"<p>Ever wonder how you get a mortgage on a home in foreclosure or a short sale?<a href=\"https:\/\/www.ewmrealestate.com\/blog\/wp-content\/blogs.dir\/230\/files\/2008\/06\/foreclosure-houe.jpg\" title=\"foreclosure-houe.jpg\"><img src=\"https:\/\/www.ewmrealestate.com\/blog\/wp-content\/blogs.dir\/230\/files\/2008\/06\/foreclosure-houe.thumbnail.jpg\" alt=\"foreclosure-houe.jpg\" align=\"left\" border=\"2\" hspace=\"4\" vspace=\"2\" \/><\/a><\/p>\n<p>Actually, just like you would on any other property.  The fact that the property has been foreclosed upon or is being offered as a short sale has no bearing on the purchase money mortgage that you apply for to purchase the property.  There are however, a few items that you should keep in mind:<\/p>\n<p>1) If the property is in a state of disrepair it may not be eligible for conventional financing so a rehabilitation or construction loan may be in order.<\/p>\n<p>2) The time frames of the negotiations and\/or closing with the seller and\/or bank can be protracted so keep this in mind when speaking to your mortgage planner about your interest rate lock and approval.<\/p>\n<p>3) If the property is located in a &#8220;distressed&#8221; or &#8220;declining&#8221; market you may be required to make a larger down-payment.<\/p>\n<p>And as always get pre-approved for financing first and if you already have but has been more than 30 days check with your mortgage planner and ask the he or she update your pre-approval.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ever wonder how you get a mortgage on a home in foreclosure or a short sale? Actually, just like you would on any other property. The fact that the property has been foreclosed upon or is being offered as a short sale has no bearing on the purchase money mortgage that you apply for to<\/p>\n<p class=\"more-link\"><a href=\"https:\/\/ewmrealestate.com\/blog\/financing-a-foreclosure-or-short-sale\/\" class=\"themebutton2\">Read More<\/a><\/p>\n","protected":false},"author":5395,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[12161],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financing a Foreclosure or Short Sale - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/financing-a-foreclosure-or-short-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financing a Foreclosure or Short Sale - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"Ever wonder how you get a mortgage on a home in foreclosure or a short sale? Actually, just like you would on any other property. The fact that the property has been foreclosed upon or is being offered as a short sale has no bearing on the purchase money mortgage that you apply for toRead More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ewmrealestate.com\/blog\/financing-a-foreclosure-or-short-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"BHHS EWM Realty\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/EWMRealtyInternational\" \/>\n<meta property=\"article:published_time\" content=\"2008-06-05T22:56:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-04-10T20:02:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"376\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"EWM Marketing\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"EWM Marketing\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/financing-a-foreclosure-or-short-sale\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/financing-a-foreclosure-or-short-sale\/\"},\"author\":{\"name\":\"EWM Marketing\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/3a9b03cccfbcd6dc5e4bcdcc0b2c8511\"},\"headline\":\"Financing a Foreclosure or Short Sale\",\"datePublished\":\"2008-06-05T22:56:10+00:00\",\"dateModified\":\"2015-04-10T20:02:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/financing-a-foreclosure-or-short-sale\/\"},\"wordCount\":192,\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"articleSection\":[\"Foreclosures &amp; 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