Real estate blog entries tagged with fha loan by Garrigus Real Estate - Call Now: 1 (888) 9-LIST-IT (Coldwell Banker Kivett-Teeters)

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Home : Blogs : Garrigus Real Estate - Call Now: 1 (888) 9-LIST-IT : Garrigus Real Estate Blog : Tag "fha loan"

fha loan: Why a Short Sale is Better than a Foreclosure - 01/05/10 10:50 PM

Why a Short Sale is Better than a Foreclosure
1. Regarding any future Fannie Mae Loans for a primary residence:
Foreclosure- A homeowner who loses a home to foreclosure is ineligible for a Fannie Mae backed mortgage (FHA insured) for a period of 5 years. Short Sale- A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae (FHA insured) backed mortgage after only 2 years.
2. Regarding any future Fannie Mae loans for a non-primary residence:
Foreclosure- An investor who allows a property to go to foreclosure is ineligible for a Fannie Mae … (3 comments)

fha loan: Qualifying For an FHA-Insured Loan if You Are Not a U.S. Citizen - 07/16/09 12:30 AM

Qualifying For an FHA-Insured Loan if You Are Not a U.S. Citizen
Currently I'm working with a client from Poland who has been in the country for a few years. He's been working hard in the country to save up enough money to buy a home and move his family out here. This is a very touching endeavor of the American Dream in my book. So when a lender informed us that citizenship was required for a FHA loan, it discouraged my client and myself a bit since he has just enough for his 3.5% down and closing. So to fully … (0 comments)

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