Frances Flynn Thorsen, Real Estate Professional in Tucson, AZ Email Phone
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Frances Flynn Thorsen

"Let's Help Distressed Homeowners KEEP Their Homes!"
Experience:
CEO for Socialebb Strategies and Solutions February 2009—present
I publish tips and tricks for bloggers each week and conduct a regular series of Webinars…
Communiity Manager for Trulia September 2008—January 2009
I work with a large community of real estate professionals and consumers at Trulia Voices…
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Specialties:
Foreclosures
Home Retention
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Certifications
& Awards:
Listed in "Top 50 Most Influential Women in Real Estate"
by real estate trend tracker Stefan Swanepoel
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Interests:
cooking, bread making,soup making, travel, Irish music, folk music, bicycle ... show more
About:
CEO of Socialebb Strategies and Solutions and unchained Trulia Evanglist.
I will publish tips and tricks for bloggers each week and conduct a regular
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Testimonials:
"“Frances walks the talk. Committed to the ethical treatment of homeowners searching for loan modification assistance, Frances supports the Pima County ... show more
Frances Flynn Thorsen answered:
FHA does not have a seven-year rule. It has a three-year rule, and FHA will make exceptions to that rule under certain circumstances. The following information about FHA underwriting guidelines is an excerpt from my newly revised book, "HUD Homes for Sale - A Complete Buyer's Guide.

Foreclosure

A borrower whose previous principal residence or other real property was foreclosed or has given a deed-in-lieu of foreclosure within the previous three years is generally not eligible for a new FHA-insured mortgage. However, if the foreclosure was the result of documented extenuating circumstances that were beyond the control of the borrower and the borrower has re-established good credit since the foreclosure, the lender may grant an exception to the three-year requirement. Extenuating circumstances include serious illness or death of a wage earner, but do not include the inability to sell the house because of a job transfer or relocation to another area. - Thu Jan 6, 2011
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