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Real Estate Beat | FHA Back to Work Program
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Real Estate Beat | FHA Back to Work Program
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A new federal program is helping families qualify for home loans in as little as one year after a foreclosure, short sale, or bankruptcy. Find out more on Real Estate Beat. Episode 11c Hosts: Terry Bleecker and Gene Bleecker Taped: January 23, 2014 |
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So if you cant afford the one you had…lived in for a year or two for free until evicted, hey, lets give you another one. Wtf???
This program is designed for someone who took a reduction of income due to the economy and can show that they made rent payments on time for a minimum of 12 months after the significant credit event took place (short sale, BK, Foreclosure). There is another rule that you must have had a good credit rating PRIOR to the “significant credit event”…
It sounds like it will make it it quite easy for people to walk away knowing everything will be fine in a year. Sounds like there will be many more foreclosures soon
This program is designed for someone who took a reduction of income due to the economy and can show that they made rent payments on time for a minimum of 12 months after the significant credit event took place (short sale, BK, Foreclosure). There is another rule that you must have had a good credit rating PRIOR to the “significant credit event”…