FHA Back to Work Program

Delaware FHA Loan Update Effect August 15, 2013

FHA Back to Work Loan Program – HUD released a new Mortgagee Letter 2013-26 and made it effective August 15, 2013, which was title FHA Back to Work – Extenuating Circumstances.  The new guidelines allow borrowers who have experienced an Economic Event that resulted in a severe reduction in income that lead to a short sale, foreclosure, and/or bankruptcy to shorten the required wait time to a minimum of 12 months.  The normal wait times are from 2 to 3 years from the derogatory event.  If you would like to apply for the Back to Work Program you can call 302-703-0727 or apply online at Delaware FHA Mortgage Application Keep Reading...