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3 Alternative Home Loan Options for People with Bad Credit

Rent, Buy & Sell

Great credit allows people to get the best interest rates on various types of loans. Bad credit is usually the result of late bill payments, bankruptcy, foreclosure and loan defaults. FHA loans can also be obtained by people who have a bankruptcy or foreclosure on their record.

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FHA Guidelines

Real Estate Finance HQ

This guide outlines the types of, as well as the necessary qualifications for, FHA loans. What is a FHA Loan? The FHA, a unit of the Department of Housing and Urban Development, was created in 1934 specifically to help low- and moderate-income families obtain financing for home ownership. Cash in the bank.

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How Much Does a Home Appraisal Cost in Florida?

HomeLight

The lender usually requires an appraisal to make sure that the asset is worth what they’re lending. Although most of Pringle’s clients are banks, she also conducts appraisals for any individuals who need a home’s value for legal reasons, such as people going through a divorce, filing for bankruptcy, or settling an estate.

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GSEs still shun the low end of manufactured housing

Housing Wire

It was able to conceal the faulty loans for years through creative accounting, however, and sold itself to Conseco for $6 billion in 1998. But when home prices depreciated, it flamed out, and its parent Conseco filed for bankruptcy protection in 2002. This was classic fog-the-mirror underwriting and lending, invoice-fixing.”.

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