FHA Update – March, 2012
FHA WILL NOW REQUIRE RESOLUTION
OR PAY OFF OF ALL OUTSTANDING
COLLECTIONS TOTALING more than $1,000
MORE THAN $1,000 in Collections MUST be paid off
Disputed credit accounts or collections resulting from identity theft, credit card theft, or unauthorized use, etc., will be excluded from the $1000 limit under the terms.
For more information about an FHA home loan or the new guidelines, you may contact my Princeton Capital Senior Loan Officer, Kristy Ruhkala NMLS# 256835 (916) 532-8080.
Looking forward to helping you purchase your next home!