FHA Mortgage Applicants with Recent Foreclosures Offered a Pass
FHA offers a new program to help otherwise eligible borrowers with recent foreclosure troubles qualify for FHA loans
The Federal Housing Administration has instituted a new program called “Back-To-Work-Extenuating Circumstances” to assist potential borrowers who faced financial hardship during the recession. This program, which began August 15th, 2013 provides a second chance for mortgage applicants who have experienced financial hardship such as unemployment or a severe reduction in income beyond the borrower’s control.
