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Delay in recent FHA changes

Delay in recent FHA changes

Notice came out that there will be a delay in current FHA changes, this could mean some of you have a little more breathing room! This delay is regarding the following:

  • Handling of disputed accounts (need to be dismissed or paid)
  • Paying off collections and judgements (if the total of collections on your credit is >$1,000 (sum) then you will need to pay them off or have shown 3 months payment history to the collection agency on a payment agreement.)

This was suppose to be in effect as of April 1, 2012 but has now been delayed until JULY 1, 2012!!!

If either of these apply to you and would effect your chances of qualifying then don’t wait to get pre-approved.

Click Here if you would like to complete a loan application.

Please call me if you need further clarification or have any questions,

Ray Williams

Branch Manager

Summit Home Mortgage

[email protected]

303-779-0591 ext. 101

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