Asked by Ashleyvictoria, Jacksonville, FL • Tue Mar 9, 2010
I know that FHA guidelines are typically two years from discharge, but according to the FHA website, â€œAn elapsed period of less than two years, but not less than 12 months, may be acceptable if the borrower can show that the bankruptcy was caused by extenuating circumstances beyond his or her control and has since exhibited a documented ability to manage his or her financial affairs in a responsible manner.â€ Does anyone have experience with this? My bankruptcy was discharged 22 months ago, but I am hoping to buy a home before the home buyer credit expires next month. What does it take to show extenuating circumstances and who can I contact for help with this?
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