FHA loan immediately after a short sale, bankruptcy, foreclosure?

Time for Obama show and tell time…look at what i did for you…

Can I get an FHA loan just after I lost my home through short sale, filed, bankruptcy, or foreclosure?

Well, maybe…But would you want a loan right away after going through that process?

Borrowers are considered eligible for a new FHA insured mortgage if they:

  • lost their jobs or income through no fault of their own,
  • income has been fully recovered???, and
  • complete housing counseling

Note: These rules expire in 3 years…right!

What about credit scores … willingness of lenders to make loans…and what about disproportionate share of minority borrowers being rejected?

Sources: Wall Street Journal, 9-3-2013, page A2


References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.

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