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
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