Welcome to our Market Update Mondays Broadcast for the Santa Clarita Valley Cities. You can tune into our Daily Real Estate Radio show.
We happen to be the longest running real estate podcast in the Santa Clarita Valley – Here are the PDF reports for Santa Clarita Valley Cities:
We just concluded our latest real estate radio show this AM – you can listen in above. In the future, if you are wanting to listen to our real estate radio shows, you can always go to our main Paris911.com website for real estate.
The LAPFCU personal approach:
The LAPFCU – earlier this AM, we had a meeting (busy day), with the Home mortgage staff and lending staff at the Los Angeles Police Federal Credit Union.
While there they were interested in how they could obtain new business. And for those of you that have issues with having a foreclosure or a short sale in your past, they might be right up your alley.
According to the Head of Lending, Ron Guzman, they look at the person’s overall qualifications. They look at the FICO score to be sure, but they don’t have any minimum guidelines for financing a new home within any specific time after a foreclosure or a short sale.
When looking at other money sources – many will tell you that they will allow you to buy again 2, 3 or 7 years after a short sale or foreclosure.
That will also depend on the Time Frame, the type of loan and other factors regarding your personal credit profile. But looking at you as a person, that is not going to happen very often!
However, the best bet may be the LAPFCU credit union after you have experienced a short sale or foreclosure. It sounds like their “personal qualifications” are much better than being 100% FICO dependent.
Thanks Ron for the Intel and we are looking forward to our future relationship with the LAPFCU.
BTW, I was a LAPD cop for 17 years regular and an additional 5 years as a Level 1 Reserve officer. 22 years total and I was glad to be a part of the LAPFCU then, and now as one of their preferred Realtors!
Here is a quick youtube video I threw together speaking about the LAPFCU program with regarding to buying a home after a short sale or foreclosure. You may be surprised how “user friendly” they are. Be safe – and let my Team and I know what you think.