Home Loans For All Credit Types

1. FHA loan with poor credit and debt collection accounts
* Tips for qualifying for an FHA loan with a weak credit:

- Many consumers have had mitigating circumstances throughout their lives
- Loss of job, loss of business, divorce, medical problems or other personal circumstances in which it affected their income, which in turn affected their ability to pay their debts, came to the best of us
- Delayed debt will affect the consumer's credit because the creditor will report it to credit bureaus
- The three major giant credit reporting agencies in this country are Experian, Equifax, and Transunion
- If you apply for a mortgage, the lender will take a loan from all three credit bureaus
- Lenders will not just look at creditworthiness assessments
- Lenders will also check your overall payment history and payment patterns
- A low credit level does not disqualify you from receiving an FHA loan

2. Delayed payments after bankruptcy and exclusion

* Eligibility for a bad credit FHA loan: can I get a mortgage after late payment and bankruptcy?

Late payments after bankruptcy, foreclosure, foreclosure act and short selling are considered extremely bad. Most mortgage lenders will not approve a borrower who is late with payments after bankruptcy, foreclosure, substitute act as a result of foreclosure or short selling. However, Gustan Cho's colleagues can help people with late payments after bankruptcy and exclusion if they get approval/qualification under the automated emissions guarantee system. Or by manually guaranteeing a good letter explaining why the borrower was late with payment after bankruptcy and/or exclusion. Late payments after bankruptcy and exclusion are not a transaction killer. However, he is seen as a second criminal and is not looking for a borrower. If you have been denied an FHA loan due to late bankruptcy and/or exclusion, please contact us at 262-716-8151 or write to us for a faster response. Or write to us at gcho@gustancho.com and we will be able to help you.

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