Is this a realistic option?

Credit and mortgage advice Forums Home Mortgage Is this a realistic option?


This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 2 months ago.

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    Hi Everyone,
    I have posted a couple of times before but here is a quick background. *I sold my previous home through a short sale due to my divorce in 2010. *I have since then let my credit score recover and I am currently at 710-712 according TU, EXP and EQ. *The LO at my local bank has indicated that I should be eligible for a new mortgage 2 years after my short sale, Novemeber 2012 so long as I have a 10% down-payment.
    So here’s my current situation… I might have found the perfect house. *I have an appointment this weekend to go take a look at it. *It has everything I’m looking for and the price is right. * My mother has mentioned possibly purchasing the house herself and then have me assume the mortgage after November when I can get approved. *Is this a realistic option? *Has anyone assumed a mortgage before? *Is it a tough to a bank to approve such a situation?
    Thanks in advance for the advice!

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