Posted on: 15th Jun, 2011 07:47 pm
We recently (6yrs ago) gave up our house in an area that was deemed a geo hazard area, La Conchita CA. Allowing the bank to foreclose and subsequently forced us into bankruptcy. My fico score is currently at 600 and our DTI would be below 35% with the home we have in mind. Would a strong cosigner help us qualify for a FHA loan?
Hi johnfranco,
With the help of a cosigner, you'll be able to qualify for a loan. Once you have a co-signer, you should contact the local lenders of your area and start applying for a mortgage.
Thanks
With the help of a cosigner, you'll be able to qualify for a loan. Once you have a co-signer, you should contact the local lenders of your area and start applying for a mortgage.
Thanks
Six years is plentifully sufficient for you to bounce back and obtain an FHA mortgage. I gather you bring up the topic of a co-signer due to lack of income. That ought to give you the impetus you need to obtain a new loan for a new property.
