"But doesnt the owner need to have 25% equity in the 1st home to take out a second FHA loan?"
The answer is no. One only need have 25% ... more
Thanks for your question.
You can rent or sell your home if you like after 1 year of ownership with an FHA mortgage. You can only have 1 FHA mortgage at this time ... more
"A non-occupying borrower transaction involves two or more borrowers
where one or more of the borr ... more
I am surprised if you payments are timely why would any lender care? Life does change.
If you have ... more
-M ... more
Sorry, but the answer is one year as stated previously. Since you are in AZ and the southwest was hit hard by this downturn, I would be careful not to test the FHA rule. You ... more
I specialize in researching the many different types of real estate financing ... more
http://www.co.gloucester.nj.us/government/Departments/Sheriff/sheriffsales/ ... more
Check with another Mortgage consultant.