Real Estate Out Of The Box: Credit and Industry Updates Series

Presented By: The Mortgage Firm

FHA Back to Work Program

FHA is continuing its commitment to fully evaluate buyers who have experienced periods of financial difficulty due to extenuating circumstances.
Many buyers experienced unemployment or other severe reductions in income and ultimately lost their homes to a pre-foreclosure sale, deed-in-lieu, or foreclosure.
FHA recognizes the hardships faced by these buyers, and realizes that their credit histories may not fully reflect their true ability or propensity to repay a mortgage.

Economic Event Defined

A decrease of income by 20% or more
Decreased income must have been for at least six months
Decrease in income must have resulted in serious derogatory credit such as a short sale, foreclosure, or bankruptcy.

Note: This program is available from August 15, 2013 through September 30, 2016.

Tune in for Tomorrow's Blog to see What FHA Programs Apply.

Karen M. Riscinto PA, CDPE, RRP

Vangie Berry Signature Realty- Realtor, Branch Office Manager

Florida Lifestyle Property Management, llc - Owner/Property Manager

(Branch Office)

108 E. 3rd Ave

Mount Dora, FL 32757

(Vangie Berry Signature Realty Main Office)