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fha: Building Alternate Credit For FHA - 11/28/08 11:22 AM
Have you ever had a borrower with only one or two FICO scores or a borrower who has yet to establish a credit profile? Well, if you have then you know how challenging this can be when attempting to secure a loan through conventional means. When using FHA financing you can build alternate forms of credit to build a credit profile.
The minimum FHA requirements with regard to credit are:
3 open/active credit accounts for 12 months. For a borrower with 1 or more FICO scores, only the above needs to be met. For a borrower with no scores at … (1 comments)
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fha: Hope for the (H4H) Hope for Homeowners Program... - 11/04/08 03:09 PM
With more than $300 Billion in its coffers to lend via the FHA, the Hope for homeowner program has resulted in a total disatser. In july of this year the H4H program was thought by many to be the key to the stabalizing home prices and curbing foreclosures, but has yet to produce any results at all. With 50 loans in queue since it's inception on Oct. 1, the program has been shunned by the lending community. Saving 50 homeowners per month will in no way cure the ailing housing market... The program is effective from October 1, 2008 to September … (1 comments)
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Kevin Rhodes
Bridgeport,
CT
More about me…
Address: Bridgeport, CT, 06608
Office Phone: (203) 572-0597
Cell Phone: 203690
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