Chosen by Asker

Private lenders are plentiful, but they always charge considerably higher interest rates than a bank. Considering the economy and the fact you have good credit 7 a good down payment you probably can find someone. A good place to check is with mortgage brokers in your area. They usually have contacts with private investors. A lot of times doctors, lawyers and such like to invest this way and they often use a broker to help find clients. good luck.

Source(s)

RE Broker

by Lone

1 month ago

Asker's Rating: 

"Private Lenders" generally do not exist unless it is already someone you know.

by Wayne Z- 1 month ago

Maybe you can use the 20% down payment money to pay for the loss of the short sale. Then they will take the short sale off of your credit history. Short sales are supposed to be for people that have no other option. For you to come up with a 20% down payment so soon after a short sale tells people that you are an abuser of the system. Maybe you won the lottery or had a large inheritance, if that is the case, do the right thing. Can you blame a bank from not wanting to enter into a agreement with someone who has proven before that they could not fulfill their obligations.

by Demo S- 1 month ago

That's great that you have savings and good credit score Go to bank where you bank and see what they have to say. In this economy they may be more understanding, even though underwriting standards are tighter than in past years.

by chatsplas- 1 month ago