Buying a Home After Short Sale, Foreclosure, Bankruptcy or Charge Off

Mortgage Meltdown of 2007 and rapid depreciation in real estate prices post that, resulted in financial crisis for a lot of homeowners. As a result of which, several of them went through a foreclosure, short-sale or bankruptcy. If you are one of those you must be trying to find out - how soon you can buy a house again. By the end of this post, you would know when you can qualify for mortgage - conventional loan, VA Loans or loans insured by Federal Housing Administration (FHA). When do I qualify for a…
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California FHA Loans after Foreclosure, Bankruptcy, Judgment and Collection

In this post I am talking about eligibility guidelines for a FHA Loan after you have gone through Judgment, Collection, Bankruptcy or Foreclosure. This applies to residents of California, Washington, Oregon and rest of the country. FHA Loan after Collection and Judgment: FHA does not require that collection accounts be paid off as a condition of mortgage approval. However, court-ordered judgments must be paid off before the mortgage loan is eligible for FHA insurance endorsement. Exception: An exception on a court-ordered judgment may be made if the borrower has an agreement with the…
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