FHA Loans 1 Year From Short Sale, Foreclosure or BK

FHA has waived its 3 year waiting period for an FHA loan approval after a foreclosure or short sale, as well as the 2 year waiting period after a bankruptcy. The "Back to Work" Program only requires 1 year seasoning on the following financial difficulties, Pre-foreclosure sales , Short Sales , Foreclosure or Deed-in-lieu , Chapter 7 or 13 Bankruptcy ,Loan modification , Forbearance agreements.

This program is designed for potential mortgage applicants who have gone through a financial hardship due to either unemployment or large reduction in income(>20%). FHA realizes that, sometimes, credit events may be beyond your control, and that credit histories don't always reflect a person's true ability or willingness to pay on a mortgage.

If you or anyone you know has gone through such an event and may qualify and wants to get back into home ownership, please contact me and I will pass you along to our preferred mortgage lender who can walk you through the process of getting approved to buy a new home.

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