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Answers (2)
- Joe Sciarrino, "Joe Sciarrino"
- Contributions:246
That would depend on the terms of your modification. If you had missed payments prior to your modification being completed it would be more difficult to get an FHA loan. The guidelines state that you would have to wait a minimum of 12 months to qualify for FHA after a late payment on the mortgage. Aside from that each bank that offers FHA has further manipulated these guidelines making it harder to get an FHA loan after a missed payments. Some banks only required 12 months of consecutive mortgage payments after a late, while some require 24 months and others won't accept it for up to 36 months. All of which needs to be documented and proven to the bank. Hope my information has helped. Good luck with everything.
Joe Sciarrino
Joe Sciarrino
- Roxy Redenbaugh, "LoanLady Nationwide"
- Contributions:125
You'll want to check the terms of your Modification, but there shouldn't be any reason you cannot refinance if you qualify.
i have a fha loan and i had modifaction with the same bank, can i refinance my loan
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