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Showing posts from December, 2013

New FHA Program

NEW FHA PROGRAM
DISCLOSURE: I am not a loan officer but I can recommend ones that I’ve worked all through the years!!  Well, just saying because my article is all about the new FHA Program.  This is currently the latest buzz in the housing market after issues of increasing interest rates, strict mortgage loan guidelines and government shut down which created cold feet again among potential buyers.  Some people wants to buy but they somewhat had foreclosures, short sales, bankruptcy, judgments, collections or other negative impact on their credit even just plain collections.  THIS IS GOOD NEWS!!!
This is called “THE NEW FHA BACK TO WORK PROGRAM.”  It basically allow borrowers to purchase a home through FHA financing who had a foreclosure, short sale, bankruptcy, judgments and collections within 12 months or later shortening the waiting period.  Here are the key factors for eligibility:  Twelve months have passed since the borrower’s hardship that resulted to delinquency and derogatory o…