Less Than 2 Years After a Bankruptcy for FHA

Never let anyone tell you, "No," when you believe in your heart there's another way. And so the story goes for one of my borrowers that closed last month (smoothly, I should add).

He had been declined by multiple lenders due to a bankruptcy that had been discharged less than two years ago. Luckily, he did not accept that. He went online and found my blog and read about a borrower that I had closed with his same profile. Sure enough, we were able to use the FHA guideline that clearly speaks to accepting an applicant less than 2 years out of BK provided they have extentuating circumstances that are beyond their control that can be documented. Also, you must be able to show current stability. With proper documentation and a clean current profile, this can be easy. And so was the case with my Borrower X last month.

There's a life lesson here we can't ignore -- Choose a positive outcome for yourself and never accept the words: It's impossible.