12 months after a foreclosure you're now eligible for a new HUD program for an FHA loan, as long as you have reestablished positive payment history.
The U.S. Department of Housing and Urban Development (HUD) recently announced the â€œBack to Work â€“ Extenuating Circumstancesâ€ program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUDâ€™s minimum eligibility requirements.... more
There's no such thing as an Obama mortgage. Rent your home if you like if you fail to make payments it will get foreclosed on just like any other home and as long as you make your house payments no one really cares who is living in it. If you do rent you should speak to your insurance agent as you'll need a slightly different policy than the one you currently have. Also bear in mind renting and being a landlord aren't for everyone and you have to be prepared to deal with tenants.... more
USDA Rural Community Development Initiative program provides funds for loans and grants for housing in rural communities.Of course there are guidelines and you must qualify for the program as with any