Many people believe that after going through a bankruptcy, short sale or foreclosure that your chance of the American Dream is over...Not so! Although it is true that a bankruptcy will appear on your credit for 10 years, the good news is that the FHA (Federal Housing Administration), will loan again to you after two years after a foreclosure with as little as 3.5% down. The best news of all, the rates for FHA loans remain low and there is more flexibility in calculating household income and payment ratios.
In today's changing market, many homeowners are also willing to do more ‘creative financing' , such as Owner financing. These types of homes sales are becoming more and more popular and offer flexible options.
The American Dream is awake and alive and the term ‘Buyers Market' is not just for perfect credit.
More information on FHA loans : http://www.hud.gov/offices/hsg/fhahistory.cfm
Jennifer Pirkle
Harvest Realty
Jennifer@harvestrealtyofga.com
678-617-0715
Comments(0)