Sci-Fi Housing

Saturday, April 05, 2008

Interesting Commentary on FHA and Bankrptcy Rules

Did you know that you can have a bankruptcy and qualify for an fha mortgage loans? Yes, it is true , a bankruptyc does not disqualify you from an fha mortgage to refi or to purchase. Imagine that if you had filed bankruptcy and wiped away all of your bad debt and then started off new with an fha mortgage loan.

You can file bankruptcy prior to obtaining an fha loan as long as you have compenstaing factors for fha. There are many of the fha compensating factors to consider but suffice it to say that bankruptcy will not prevent your from getting an fha mortgage loan to buy a house as long as you have the ability to qualify per the 4155.

The bankruptcy buyout for FHA is an exciting way for you to get a mortgage loan with fha after a bankruptcy. A chapter 13 is a bankruptcy buyout. This is not a reason for an FHA turn down. Be sure to check your fha lending guidelines. With all of this knowledge there should be fewer foreclosures in florida.

Mortgage loans in florida after a bankruptcy should be no problem.



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