Under the new Back to Work Program-borrowers with previous bankruptcies, foreclosures, deeds-in-lieu, short sales, or other adverse credit may be eligible for FHA purchase transaction financing provided all of the following requirements are met:
File must contain specific documentation to evidence the delinquencies were due to the economic event
Must have reestablished a satisfactory credit history for at least 12 months
Must have fully recovered from the economic event
Must have attended an approved housing counseling program at least 30 days but no more that 180 days prior to the initial loan application.
For further information please contact our office today!
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