HUD Back To Work Program

Have you recently encountered a bankruptcy, short sale, or foreclosure and want to buy a new home? With HUD's new Back to Work program, you could be eligible for FHA financing in as little as one year from the date of occurrence.
Have you recently encountered a bankruptcy, short sale, or foreclosure and want to buy a new home? With HUD's new Back to Work program, you could be eligible for FHA financing in as little as one year from the date of occurrence.  Here are some of their requirements:
  • The adverse credit must be a result of job loss or reduction of income. The loss of income must be at least 20% for a period of 6 months or greater preceding or during the economic event.
     
  • Must have a minimum credit score of 620.
     
  • Need to have reestablished credit. Most recent 12 months with perfect payment history and housing expense will be required to provide proof that you have fully recovered from the economic event.
     
  • You must have taken an approved housing counseling 30 days prior to loan application.

If you don't qualify, we also offer other options for mortgage financing in as little as two years from the economic event, depending on the loan program you apply under.

Call Cornerstone Mortgage for details on this program and many others at (661) 370-0600.


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