Weird things about the name Kevin: Your name in reverse order is Nivek. A random rearrangement of the letters in your name (anagram) will give Ievnk. How do you pronounce that? How many people have the last name Kevin? In 2010, the U.S. Census Bureau surveyed 352 people with the last name Kevin.
Usually, a foreclosure requires five to seven years before the borrower is eligible for another mortgage. The short sale will stay on your credit for up to seven years and can affect the ability to open credit cards and other loan accounts. If you decide a short sale will be right for you, and your lender agrees to it, then you will see an immediate drop in your score once the lender reports it the credit bureaus.
For example, most appraisals on VA loans are back within 10 days, but it might take longer in more remote parts of the country. That 30- to 45-day window from contract to close is a good ballpark for most purchase loans, unless youâre trying to buy a short sale (think more like 90 to 120 days). But understand itâs not uncommon for underwriters to require additional documents once they begin scrutinizing your loan file.