Posted on: 13th Apr, 2010 11:11 am
My husband had an FHA loan that was foreclosed on in 2006. They sold the home but take our yearly taxes to pay the difference. My name was not on the loan. Would it be possable in the next 2 to 5 years to buy a new home, or is our credit too messed up from the FHA foreclosure?
Hi,
As your name was not on the mortgage, you would be able to qualify for a loan even now if you've a good credit score, stable income and debt to income ratio. If you do not have too much of negative items on your credit report, you'll be able to qualify for a FHA loan or a conventional loan.
Thanks
As your name was not on the mortgage, you would be able to qualify for a loan even now if you've a good credit score, stable income and debt to income ratio. If you do not have too much of negative items on your credit report, you'll be able to qualify for a FHA loan or a conventional loan.
Thanks