And so it goes once again. Last month I received a phone call from a borrower less than 2 years out of a bankruptcy (last time it was an email from a blog reader). It was an interesting situation. She had been abandoned by her husband and left to raise their 4 kids. So, I'm sure you would ask--how do you prove abandonment? Well, my smart borrower had kept an email message from her husband in 2006 that clearly proved the case.
Again, let me be clear. This is not the norm, however, I want all of my readers to know that the FHA guidelines are very clear, you are still eligible for a FHA loan if you have "extentuating circumstances beyond your control." A few things to remember:
- You must have written evidence of these circumstances
- You must able to show that you have re-established credit
In my borrower's case she had saved every dime she had for a home and had amassed a significant amount in her savings. She deserved a home. She had opened new tradelines that proved she could pay her bills on time.
If you are in this situation, just know to keep hope alive. There's still hope.
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