FHA Tip Of The Day

By
Mortgage and Lending with Southwest Funding

FHA will allow a court ordered judgment that has been in a repayment plan for just 6-mo. Most lenders require a 12-mo repayment history, but HUD guide lines support just 6-mo on time payments. If you can find the right bank this will work. This kind of knowledge will help you close more loans.

 

Jeff Schraeder

Imperial Mortgage

DFWLoanofficer.com

Comments (2)

Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Great info - thanks for sharing!

Jul 18, 2008 07:40 AM
Hans Iduma
Gaithersburg, MD
Certified Mortgage Planning Specialist

Most lenders I work with just want to see some acceptable proof that a repayment plan has been accepted by the creditor. Great tip.

Jul 18, 2008 07:59 AM