FHA Nightmare Or Mith
I have take a few FHA loans but this is the first that has not been seasoned for one year or more. Does anyone know or had experience with FHA loans being called or this a great story you hear?
Thanks
Sire
Sire,
I've not heard of any FHA loans being called simply because it was the first year. On the other hand any loan may be called if proper steps are not followed.
The only loans that I know of that present problems for Sub2 are USDA rural loans. The homeowners have large subsidies that slowly "pay off" over time and they must be repaid upon sale. Also, there are actually inspectors who go out once per year to verify the homeowner is still there.
And yes, I have and have had Countrywide loans. It's not a problem if things are done wisely.
Hope that helps...
[addsig]