FHA Bankruptcy Seasoning Requirements

Do I qualify for a FHA loan with a Bankruptcy? You may be eligible for a mortgage if: The property was included in a bankruptcy caused by circumstances beyond the borrower’s control, such as: the death of the principal wage earner, or a serious long-term uninsured illness, and Chapter 7 Chapter 7 bankruptcy does not disqualify you […]

Bankruptcy Foreclosure Seasoning For Best Mortgage Lender in Dallas TX

Bankruptcy and Foreclosure Seasoning

Below are the seasoning requirements for various types of loans. Foreclosures, Short Sales, Deed-in-Lieu, Preforeclosure, and Charge-Off of Mortgages are all treated the same when it comes to seasoning requirements. All are measured from the date that the title was actually transferred out of the homeowner’s name and into the bank’s name. Conventional FHA Requirements VA Requirements

Continuity of Title for Refinances

Definition of Continuity of Obligation Continuity of obligation occurs on a refinance transaction when at least one of the borrower(s) on the existing mortgage is also a borrower on the new refinance transaction secured by the subject property.   Requirements for Continuity of Obligation All refinance transactions must comply with the definition above, meet one […]