Jim Walter homes is still in business. They had a law suit . Not sure of how many but they changed names numerous times. Jim Walter, Walter mortgage, and than they emerged with Green tree financial and now for mortgage loans they are called Di-Tech. They also are the owners of Walter investment.... more
Yes, you can get an FHA loan, if credit score is between 500 and 580, but FHA requires 10 percent down payment.
Like your credit score is 580, so you need to pay 3.5 down payment.
I understand your concern because it feels intrusive but lenders need to verify that the money for the gift deposit was not illegally received (drug dealer, robbery, etc.). Yes, lenders need proof in writing because without proof, it could mean the money was stolen or from drugs.... more