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 Posted: Fri Jun 19, 2009 5:16 pm Post subject: FHA in California |
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| Hi everyone, I have a quick question in regards to the FHA loan. I live in California and owned 3 houses in 2007 that went into foreclosure in 2008. I was the only one on the mortgage and my husband was not. We are trying to buy a house in my husbands name ONLY using FHA, is this possible??? My husband was NOT on any of the 3 houses, I talked to 3 lenders so far and they are telling me that he does NOTqualify for FHA because I owned 3 houses in 2007. My husbands credit and income are fine, he qualifies for fha but the lenders are stating that I am the problem, if anyone out there is a lender, please reply with your contact info so we can set up something, thank you so much! Again I am only looking for an FHA loan in California |
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 jenkin7
Joined: 04 Jun 2007
Posts: 3429
Location: Hawaii
514.13 Dollars($)
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| Posted: Fri Jun 19, 2009 11:36 pm Post subject: |
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If your husband was not on the title to the properties that went into foreclosure, his credit should not be affected. If you are the only one on the title to these properties, your credit will be damaged. You will not be eligible for an FHA loan for a minimum of 2 years. However, this is not going to affect your husband’s eligibility for an FHA loan. If he has got a 620+ credit score and a good income, it should not be a problem for him to get the loan.
There are lenders in this community who offer loans in California. You can go for a no-obligation free mortgage consultation with them and check out if your husband can qualify for an FHA loan. They will assess his credit score, payment history, income etc and will tell you if your husband can qualify for an FHA loan. In case he does not qualify for the loan, they can tell you why he does not qualify and what could be done to get him approved for the loan. |
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