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FHA Loan Reader Questions: Spouse Credit Issues 27 Aug 2013 | 05:40 pm
A reader asks, “My husband and I are looking to apply for an FHA loan. We just recently got married. He is more than qualified to apply on his own, with a good credit score and great income. I, unfort...
Back To Work: The FHA’s New Program Requires Housing Counseling 26 Aug 2013 | 06:16 pm
The FHA has a new program called Back To Work, designed to help borrowers who have experienced what the FHA terms an Economic Event that resulted in negative credit information but may not necessarily...
Back to Work: How the new FHA Loan Guidelines Apply to Foreclosures and Short Sales 23 Aug 2013 | 05:05 pm
In recent blog posts we’ve explored a new FHA program called Back To Work, which allows lenders to be more lenient with credit requirements for borrowers who have experienced what the FHA terms an Eco...
Back to Work: How the new FHA Loan Guidelines Apply to Bankruptcy 22 Aug 2013 | 06:00 pm
In our last several blog posts we’ve been examining an important new development from the FHA, a program known as Back To Work that allows lenders to work with borrowers who may have negative credit i...
New FHA Loan Rules For Borrowers With Financial Difficulties: Evaluating an “Economic Event” 21 Aug 2013 | 08:00 pm
We’ve been taking a look at the new FHA loan guidelines for lenders who are working with borrowers who have had what the FHA terms an “economic event” that affects credit but may not necessarily be a ...
New FHA Rules For Borrowers Who Have Faced an “Economic Event” 21 Aug 2013 | 07:32 pm
In recent blog posts, we’ve examined some of the new guidelines for FHA borrowers who may have negative credit information on their records as a result of financial difficulties the FHA describes as a...
New FHA Loan Guidelines For “Back to Work” 20 Aug 2013 | 08:15 pm
The FHA recently issued a mortgagee letter detailing new guidelines for lenders working with borrowers who have had financial setbacks that might not indicate their ability to make monthly mortgage pa...
FHA Revises Loan Policies For Credit Issues Related to Unemployment, Economic Hardship 19 Aug 2013 | 05:45 pm
The FHA has issued a new mortgagee letter which revises its policies related to credit evaluation for FHA loan approval. FHA Mortgagee Letter 2013-26 says the FHA is committed to helping borrowers who...
FHA Updates Loan Rules On Credit, Collections, and Judgments 16 Aug 2013 | 06:27 pm
A recent reader question asked, “I have an outstanding judgment in the amount of $8000. Can I still get a loan?” FHA loan rules are clear on the issue of credit, stating that past credit performan...
FHA Extends Unemployment Foreclosure Avoidance Program Indefinitely 15 Aug 2013 | 07:44 pm
The FHA has extended a program designed to help unemployed borrowers avoid FHA loan default and foreclosure. A recent FHA mortgagee letter announced, “the extension of the unemployment special forbear...
