I have a friend that lives in a home already, she wants to sale it, and get approved for a fha loan for another home after her’s sale. my question is can she get the fha home loan with a 8 year ancient bankruptcy, and a charge off thats her mom’s they have the same name, her lender wrote a letter about that before she sent it to underwritting, so is it hope for her?
WELL THANK YOU ALL. I RECKON ALL THESE ANSWERS ARE FANTASTIC!
Posts Tagged ‘mom’
Has anyone gotten an fha home loan with bad credit?
Thursday, January 28th, 2010FHA 3rd borrower requirements?
Saturday, October 24th, 2009Ok, so we were denied an FHA for 190k!!! my husband is 1099, so they took the net income and of course was not enough to finance us. My income helped our monthly yucky, BUT i’ve only been at my job for 2 months after 3 years off. Now the banks are saying we can have a 3rd non occupied borrower who has 2 years work history and decent credit and income. All this for 190k. Will it be worth it to have 3 borrowers on such a small amount…and its never black and white like they say..what are the gray areas to involving a 3rd borrower like my mom who just did a loan mod of 330k on her house?
Tags: 3 years, bank failures, banks, borrowers, drinkwater, ear to the ground, electronic arts, FHA, FHA Home Mortgage, fha loan, FHA Mortgage, FHA Requirements, gray areas, job, mom, mortgage purchase, net income, personal loans, properties in penang, reverse mortgages, tarp, tenant loans, troubled banks, u s bank, work history, yooQuestion about reverse mortgage……?
Monday, September 14th, 2009I’m trying to find out some helpful information for my parents. They are considering a reverse mortgage, but so far my Mom has only spoke with one lender……We live in SC, and the last time they had their house appraised it was for ,500. or somewhere around that amount…..The lady she spoke to on the phone today told her that if her house is appraised at only 91500 she will only get around ,000. and that is before the closing cost and other fees, which all that added up to be around ,000. Does this sound right? We were thinking that she should be able to get more than that…..If anyone has any experience in this, any advice would be appreciated. I’ve found a list on the Gov. website for hud approved reverse mortgage lenders…..Maybe she should call around for the best deal? Thanks guys and I hope everyone had a blessed Christmas!
oh yea, and if it helps any, my parents don’t have a current mortgage. They owe nothing.
God bless……
Tags: bank bailout, best mortgage, christmas, christmas carol, closing cost, current mortgage, fha loan, fha mortgage lender, finance articles, florida lifestyle, glenn beck, god, harkin, home equity credit, home finance, HUD, HUD Approved Lenders, last time, mom, mortgage lenders, mortgage rate, parents, rate finance, reserve auction, Reverse Mortgage, terracycle, wrath of godHow does this HUD payback work?
Thursday, September 10th, 2009In 1998 I bought my first condo… My mom was tha co-signer. With about six thousand I got my condo. My previous band was oldkent mortgage located in Cincinatti. In 2000 they merged to 5th3rd bank. Two years ago I refinance and paid of the loan. FHA-or HUD send me a bill for Sixthousand that I owed them. I called 5th3rd bank and they send a letter that the account was paid off. I recently sold my condo and now the HUD is asking again for the money. Now they want to see a cancelled check. The problem is that the bank can not locate any payment that was made. They are sending me and my mother to collections. Do anyone have sugestions? Why do I have to pay FHA or HUD?
Tags: 5th3rd, cincinatti, collections, FHA, HUD, HUD Loan, mom, money, mortgageSearch :
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