Recent Foreclosure? No Problem - New FHA Loan Program May Get You in a Home Anyway.

Do you want to buy a new home but had a foreclosure or Deed in Lieu recently?  Well, help may be here at last!  Many people during the recent recession experienced hardship, including many otherwise responsible home homeowners that were victims of circumstance.  

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So to help those unfortunate enough to have experienced this,  HUD has released a new program.  This new Back to Work program does have some qualifying criteria but will provide many people the opportunity to own their own home again.  The new mortgagee letter states that you must document a loss of 20% or more of your income at or around the time of the foreclosure or Deed in Lieu and have re-established your credit for the past 12  months with no mortgage late payments.  

If you or someone you know experienced hardship and want to determine if you qualify for a new FHA loan under this program call me today for more information at 801-390-0970 or drop me a line here.   View the HUD mortgagee letter here.