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Back to Work-Extenuating Circumstances Program Is Here

This is some great news for homeowners who have had a short sale. Basically, FHA originally had a 3 year waiting period for “extenuating circumstances” such as a short sale, foreclosure, or bankruptcy to qualify for an FHA loan. Now, the homeowner only has to wait ONE year.

You must be able to show hardship in order to qualify. Such as:

PRE-FORECLOSURE SHORT SALE
SHORT SALE
DEED-IN LIEU
FORECLOSURE
CHAPTER 7 BANKRUPTCY
CHAPTER 13 BANKRUPTCY
LOAN MODIFICATION
FOREBEARANCE PROGRAM

Other requirements involve showing that you’ve recovered and taking some counseling sessions to ensure absolute recovery.

For more information, please contact me by submitting your information on the short sale tab above.

Hope this helps!

Peter

 

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