Starting April 1, 2012 a new qualification rule could dramatically change the volume of buyers that qualify for FHA-backed loans, especially impacting first time buyers.
Beginning April 1, 2012, any borrower with ongoing disputes with creditors over any debt above $1,000 may no longer qualify for FHA-insured loans, regardless of credit scores.
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Beginning April 1, 2012, any borrower with ongoing disputes with creditors over any debt above $1,000 may no longer qualify for FHA-insured loans, regardless of credit scores.
Click Here for Full Article.
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