All Posts Tagged With: "years"
How long must I hold a job to get an FHA mortgage?
With so much turmoil in the workplace — and so much demand for FHA loans — is it possible to get an FHA mortgage if you’ve had frequent job changes or even unemployment? The answer is “yes” and this should be good news to a lot of people in a changing work environment. HUD guidelines [...]
20Jan2011 | Peter G. Miller | 0 comments | Continued
Controversy Brews Over Latest Obama Mortgage Write-Off Plan
The newest effort by the federal government to shore up the flagging housing market is going to set off a fierce debate. The just-announced FHA Refinance Option is likely to keep a lot of homeowners out of foreclosure. This is important because until the “shadow” inventory of distressed and foreclosed homes is reduced in a [...]
29Mar2010 | Peter G. Miller | 0 comments | Continued
Are You Keeping Up With Work & Wages?
If you’ve been getting more money each year and maybe a bonus here and there you might think you’re doing pretty well. After all, part of the American dream is to get better at what you do and therefore earn more money as a result. Unfortunately, you’re likely to notice that even with a bigger [...]
2Jan2009 | Peter G. Miller | 0 comments | Continued
Buying Real Estate After Bankruptcy
Lenders generally like to see three to five years of good credit after a bankruptcy is resolved. However, there are instances where lenders will finance with as little as one to two years of good credit, depending on the circumstances involved. As an example, an individual may be able to get an FHA mortgage after [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
How Long Can Negative Items Stay On A Credit Report?
In general, a bankruptcy can remain on a credit report for 10 years while a late or missing payment or foreclosure can be retained for seven years. Under the Fair Credit Reporting Act (FCRA), federal consumer-protection legislation, you can post a 100-word statement disputing any reported item. (Before posting, ask when and how you can [...]
29Aug2008 | Peter G. Miller | 1 comment | Continued
Can I get a mortgage after a foreclosure?
Would you give someone a home loan soon after they were foreclosed? Not likely, and lenders feel the same way. In practice, after a foreclosure lenders will typically refuse further financing for two to five years under guidelines established in June 2008 by Fannie Mae. In the usual case expect to wait five years. In [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
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