shortsale: Back to Work by FHA
- 01/16/14 12:01 AM
Unintended Consequences???? It would seem that this is another case where the real world is undermining what was hoped to be a way to help those that were hurt by our economy. I sent the following to HUD (answers@HUD.gov) and am waiting to see if this issue receives any attention. Wish me luck. I am attempting to obtain clarification for what appears to be an unintended consequence relating to interpretation of ML13-26.
FACTS - Homeowner has a drop in income that meets the “back to work” criteria. In April, 2011 his Chapter 7 BK is recorded and his primary residence … (1 comments)
shortsale: short-sale relief
- 11/27/13 01:07 AM
Many homeower's were victims of the economy and and lost homes during the last few years. If you know someone like that, make sure that they are aware of two programs designed to help them become homeowners again. After one year - FHA Back to Work Program After two years - Pre-foreclosure short-sale exclusion. Both programs require that you have at least one-year of clean or "re-established" credit. Those who have 20% to put down, and can wait the two years, will find that the second program is best - lowest cost, lowest rate, no PMI. Those that need the one … (0 comments)
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Unintended Consequences???? It would seem that this is another case where the real world is undermining what was hoped to be a way to help those that were hurt by our economy. I sent the following to HUD (answers@HUD.gov) and am waiting to see if this issue receives any attention. Wish me luck.
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