Hello Trina - that is a very interesting question to which you will get many different responses. The reality is one should look a little deeper at the delinquencies to see if there is a way to work around that issue. We have a variety of products that could work for a property like that as long as the loan is going to be owner occupied. If an investor loan, a larger down payment of say 25% would be required. Feel free to message me or call at 202.803.5505 to discuss your situation in more detail. I'm new on the social media sites however have been in the business for over 14 years now...my specialty the last five years has been working with tricky condo projects! Good luck!