The reason is that all FHA case numbers pulled after October 15 must include a payment for collections totaling in excess of $2,000. We either have to take 5% of the aggregate balance for the payment, or you will have to negotiate your own payments we each account holder.
…and, really if you are thinking of buying a house with an FHA loan I would do it now. This is because if you wait until mid October it will likely be too late. (We can’t pull a new case number without a contract and a property address)
By the way… Did you know I can FHA loans down to 580 with just a 3.5% down payment? …Yep! …Call or email me if you need help with your situation!
Also… Initial Jobless Claims report is due out this morning at 8:30 AM and could be a mortgage rate mover.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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