FHA Back To Work program – Tampa Bay Real Estate
The FHA “Back To Work” Program Is Official, FHA has waived its 3-year foreclosure / short sale and 2 year bankruptcy waiting periods, now via the “Back To Work – Extenuating Circumstances Program”, your borrower can buy a home 12 months after a Foreclosure, Bankruptcy and/or Short Sale.
On August 15, 2013, though, the Federal Housing Administration moved to relax its guidelines for borrowers who “experienced periods of financial difficulty due to extenuating circumstances”.
Dubbed the “Back To Work – Extenuating Circumstances Program”, the FHA removed the familiar waiting periods that typically followed a derogatory credit event.
If the borrower has experienced any of the following financial difficulties, they may be program-eligible :