“Good for this Banker”
Hi Joe, do you do 203K loans? I’m look for the waiting period for bankruptcy/foreclosures. Is it the same as an FHA loan? Our bank doesn’t do these loans, but I want to be able to refer my client.
It is never easy for a bank to tell a client they can’t assist them, but it is always wise to refer a client to a lender that can. Keeping a banking relationship with a customer is extremely important as there is a lot of competition.
For this client, they had a foreclosure 5/15 which means an FHA loan can be obtained if credit has been re-established and the credit scores are over 500.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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