Personal bankruptcy & Property foreclosure
When you have already had an FHA mortgage and wish to make an application for various other FHA mortgage , you do not qualify if you were thanks to personal bankruptcy or property foreclosure.
Another way you will possibly not qualify for a moment FHA financing is when you really have a claim on your CAIVRS statement, you ought to obtain the claim eliminated before you can rating a keen FHA loan.
CAIVRS
Before an applicant are accepted for a loan they have to first pass a card assessment. Very lenders use the CAIVRS program so you can pre-monitor applicants. This new phrase means Borrowing from the bank Aware Verification Revealing Program. (далее…)