Do you want to buy a home… but aren’t currently able to because of a foreclosure, short sale, or bankruptcy?
There is a new program that may allow you to purchase a home sooner than you thought!
Borrowers that may otherwise be ineligible for an FHA-insured mortgage due to FHA’s waiting period may be eligible for an FHA-insured mortgage if the borrower:
– can document that the delinquencies and/or indications of derogatory credit are the result of an extenuating circumstance
– has completed a minimum of one-hour of one-on-one Housing Counseling (subject to specific requirements), and
– the borrower meets all other HUD requirements
FHCRC is providing the required counseling for the pre-purchase consulting program. Individuals can set an appointment for this counseling by calling FHCRC at (951) 682-6581.
CBS News Article: Borrowers with bad credit can now buy soon with FHA