Subprime going down the toilet....Don't flush away your revenues

Larry:  what an interesting picture.  :)   FHA has been my golden apple lately. 

Voila! After the evil sub prime lenders are out of the way, the federal government swoops in and starts doing the same things the federal legislators and regulators were criticizing the subprime lenders of doing, namely Loose lending guidelines.  But in our Socialistic nation, I guess its better if the government runs the subprime. And we know who pays for it when these loans go bad.

Bill Burress

http://www.cincinnatisouth.com/

FHA has no minimum credit score but many investors, despite their claims that they strictly adhere to HUD requirements, have minimum score requirements. it's referred to as being investor quality.

Actually the two year rule for FHA on bankruptcy's only applies for Chapter 7's. On Chapter 13's they only need had paid a minimum of 12 payments to the trustee and they all need to have been paid on time. I have refinanced many people still in their chapter 13. Also need permission of the court to do loan. Additionally, a layered risk analysis must take place to determine eligibility.

FHA production is up 60% nationwide over last year. Not many programs in today's environment can claim the same.

Don't forget FHA Reform in Congress.