FHA Loans After Bankruptcy, Foreclosure, Short Sale: 2013 Rule Change

FHA Loans After Bankruptcy, Foreclosure, Short Sale: 2013 Rule Change.

FHA Loans After Bankruptcy, Foreclosure, Short Sale: 2013 Rule Change

To that end, FHA is changing the rules for borrowers who want to use an FHA loan after a bankruptcy, short sale, foreclosure, or deed in lieu of foreclosure. Borrowers who can show that the negative event was due to income losses beyond their control could be eligible for an FHA loan within one year of the event. This is a major change over the previous three-year rule for bankruptcies and foreclosures.

Read more: http://www.homebuyinginstitute.com/news/fha-after-foreclosure-bankruptcy-463/#ixzz2f4Rpj5Os

— 

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.comKey Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*

Louisville, KY 40222*

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