Rural Development

Caresid · Joined: 14 Mar 2008 Posts: 12 5.79 Dollars($)

Ok, does anyone know anything about the rural development program to purchase a home? I seem to fall within the income guidelines but dont see anything about bankruptcy.

charlesarmbruster · Posted: Thu Mar 20, 2008 11:12 am Post subject:

http://www.rurdev.usda.gov/
FHA guidelines are:
Chapter 7 BK must be discharged 2 years prior to application
Chapter 13 may be considered after 1 year from filing date, and debts can be paid inside the loan
I believe these guidelines would also apply to USDA Rural Development loans.

gmakerley · Posted: Fri Mar 21, 2008 8:33 am Post subject:

in reading my guidelines today, i find the following:

Ch. 13: One year of the pay-out period has elapsed with satisfactory performance OR court approval received.

Ch. 7, 11 or 12: Discharged more than 36 months before application.

this is, indeed, the usda guaranteed rural housing program.

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