Have you lost you home? Buy NOW, this is how!!!

By
Real Estate Agent with GaRealtyGroup | 2ShortSaleGuys GA - 315107

The Federal Housing Administration (FHA) has announced a reduction in the timelines someone has to wait to purchase a home after a bankruptcy, short sale, or foreclosure.  This is a great thing!!!  Time to get excited!!!  WOO HOO!!!



In the past you had to wait 2 to 5 years depending on your circumstances if you went through the loss of your home.  Different lenders had their own criteria, however, it was all in line with the guidelines that FHA had set.  The typical wait time was 2 years from the discharge of your bankruptcy and 3 years from the recording of the foreclosure deed.  

 

Those times have been cut down to 1 YEAR!!!  But the borrower has to meet a few criteria.  Listed below are those criteria according to the FHA Document “Mortgagee Letter 2013-26, published on August 15, 2013.  

 

  • Household income fell by 20% for at least six months

  • Income drop was due to unemployment or an event beyond the borrowers control

  • Borrower takes a 1 hour approved housing counseling class

  • Have 1 full year of verified housing payments on time (rental)

 

Now some say that they put the hook out there to get you hungry but then make you do all these things in order to get it.  Well, we look at it as an opportunity for homeowners to get back into that home with minimal requirements.  A lot of our clients that have sold their home as a short sale will qualify for this home and will be a great opportunity for them to once again be involved in home ownership.  Why pay someone else’s mortgage when you can pay your own???

 

Do you qualify for this opportunity?  Call us today and we will get you in touch with the best lenders in the state!!!  They will work through your financial situation, get you pre-qualified and we will get you in that home before Thanksgiving!!!

 

In the meantime, you can search for homes by clicking HERE

 

If you are looking to sell your home, we are the best in the business! We utilize some of the best marketing techniques to get your home sold quickly.  We have the know how to get your home SOLD.  Contact us today by clicking HERE to get a FREE home evaluation and consultation.

 

Posted by

 

Nakia Brooks, REALTOR ®

 

Nakia@GaRealtyGroup.com

GA Realty Group | 2ShortSaleGuys
Keller Williams Realty – Lanier Partners

 

To view many great homes in North Georgia available today, CLICK HERE to start your search NOW!!!

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Topic:
Home Buying
Location:
Georgia Barrow County Winder
Tags:
fha
bankruptcy
foreclosure
short sale
deedinlieu
nakia brooks
bill bythewood
garealtygroup

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Rainmaker
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Kathy Stoltman
Rockwood Realty - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

I think this will help many folks who got hurt by the recession.

Aug 18, 2013 02:46 AM #1
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Rainmaker
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Nakia Brooks

Selling GA, One yard at a time!
678-279-5977
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