General Appraising & Consulting Services, Inc. is a full service real estate appraisal firm dedicated to providing our clients professional, quality driven solutions for their valuation needs in the far Western North Carolina region.

FHA: No loan if you have a collection

Posted on April 2, 2012 by

The FHA is tightening the screws on borrowers again. Borrowers will be rejected for an FHA mortgage if they have an account over $1,000 in dispute or collection. The new rule went into effect April 1. If the disputed debt is more than 2 years old, borrowers won't have a problem securing an FHA mortgage. But unpaid

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FHA: No loan if you have a collection