Monday, January 29, 2018 / by Sean Zanganeh
Although several conditions need to be met, this could be an opportunity for you. To qualify, borrowers must prove that they lost their home because of a significant economic incident, such as losing a job. Circumstances must have changed significantly, resulting in the family income being fully recovered when applying for the new loan, too. Those wishing to purchase a home must also have an adequate credit score and participate in a one-on-one counseling session lasting one hour.
In addition to these conditions, borrowers need to meet all other FHA requirements as well as having a solid history of on-time rental payments, no more than one 30 day late payment to creditors, and no reported collection or court records. This program could be a great way to gain approval for your home. If you'd like to learn more about local homes for sale, give me a call. I'd love to help you find out more about this program and available homes.