Financing in Park Place : Questions & Answers

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Ruth Carlson, Real Estate Pro in Mobile, AL
Ruth Carlson answered:
My husband and I had a conventional mortgage which was foreclosed in March 2012, (after 15 years). Can we qualify for a FHA loan?
Such a sad situation. But, you cannot qualify for a new loan yet. Following a foreclosure most banks will not lend funds for a period of 3+ years. The type of loan that was foreclos ... more
0 votes Share Flag Tue Oct 16, 2012 Financing in Park Place
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
My husband and I had a conventional mortgage and it was foreclosed in March 2012. Can we qualify for a FHA loan?
Eventually you could, yes. To purchase a home with FHA financing it requires a 3 year wait from a foreclosure. There is an exception, and that is if the foreclosure was due to documen ... more
1 vote Share Flag Thu Oct 4, 2012 Financing in Park Place
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