How to Buy a House 12-months after Foreclosure or Short Sale-New

Written by Posted On Tuesday, 22 October 2013 12:10

This may be just the loan program for you to avoid waiting 2-3 years to get back into a new home after a foreclosure or short sale here in Arizona.  

FHA BACK TO WORK LOAN PROGRAM - A minimum of 12 months have elapsed since the date of foreclosure, deed-in-lieu, short-sale, bankruptcy CH. 13 or 7.  FHA is allowing for the consideration of borrowers who have experienced an Economic Event and can document that:

  1. Certain credit impairments were the result of a Loss of Employment or a significant loss of Household Income beyond the borrower’s control
  2. The borrower has demonstrated full recovery from the event
  3. The borrower has completed housing counseling from HUD- approved housing counseling 30 days before but no more than 6 months prior to making a loan application.

This program is now available from a couple of the lenders I work with.  To be referred to a lender just fill out this form: Get Pre-Qualified for an Arizona Loan

Loren Hoboy-Realtor


Rate this item
(0 votes)

Agent Resource

Limited time offer - 50% off - click here

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.