FHA’s “Back to Work” Program Helps Formerly Distressed Borrowers Back into Homeownership Sooner

RealtorMag - Foreclosed Owners Get Second Chance SoonerThe Federal Housing Administration (FHA) recently introduced their “Back to Work – Extenuating Circumstances” mortgage loan program to the public. The program is designed to “shorten the waiting period for qualified borrowers who want to buy a home again who’ve had a bankruptcy, foreclosure, deed in lieu of foreclosure, or short sale who want to buy a home again.” Borrowers who meet FHA’s qualification standards, including the completion of a HUD-approved housing counseling course within 30 days of submitting an application,  will be able to apply to buy property within as little as a year. http://bit.ly/IGa5NL

Visit http://backtoworkprogram.org/ to learn more about the FHA “Back to Work” program.

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