Close

See current mortgage rates on Zillow Mortgage Marketplace

FHA "Back To Work" Program Info

Borrowers with a recent history of bankruptcy, foreclosure, judgment, short sale, loan modifications, or a deed-in-lieu may be able to qualify for an FHA mortgage sooner than they expected.

FHA lessened the waiting requirements based on those who have "experienced periods of financial difficulty due to extenuating circumstances."  People who have experienced financial hardship as a result of unemployment or severe reduction in income (at least 20%), and that can show a 12 month satisfactory credit history since that economic event, may be able to get an FHA loan now instead of waiting the 2 or 3 years they anticipated.

Millions of U.S. homeowners who experienced financial difficulty under extenuating circumstances are now eligible to purchase new homes.  Please feel free to contact me with questions about the program.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 28 2013 - US
We think we've answered this question for you!
 
 

Replies (3)

Profile picture for shortd36
Why can't I find any lender around here that knows anything about the Back To Work program
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 13 2013
I've done several Back to Work Program loans, I assure you there some Loan Officers that know what there doing.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 13 2013
The borrower may be eligible for an FHA Mortgage after 1 year (12 months) from the event instead of the 2 year waiting period for bankruptcy or 3 year waiting period for a short sale or foreclosure.

I am a direct FHA lender offering this program. We have already successfully closed and helped buyers get in to a home. To prevent any delays we will have your file underwritten and approved before taking the home buyer counseling class to save you time and money. This way you know upfront your file has been approved to move forward with this program. Your file will be underwritten in 72 hours upon receiving the required documentation.

To be eligible for the program, borrowers must be able to prove that a major economic event such as a job loss or severe reduction in income (at least 20 percent for a period of six months) was the main catalyst to the circumstances listed above.

Additional Program Highlights: (1) Adverse credit must be a result a reduction of income, (2) 620 minimum credit score is required of the borrower, (3) Re-establishing credit - Most recent 12 months with perfect payment history, (4) Housing counseling is required a minimum of 30 days prior to all loan applications.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 13 2013
 
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
Related Discussions
VA home loan with bad credit
Profile picture for lapo loanhouse ng
Latest reply by lapo loanhouse ng
3 hours ago | 59 answers
WHat are the Minimum Credit Scores Required for FHA Loans
Profile picture for Dan Haney
Latest reply by Dan Haney
22 hours ago | 31 answers
FHA MIP ripoff
Profile picture for Peter Rodgers
Latest reply by Peter Rodgers
June 03 | 23 answers
Can I have two VA loan at once?
Profile picture for Nathan Fritz
Latest reply by Nathan Fritz
May 23 | 11 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.