Kentucky USDA Rural Housing Mortgage Lender

Kentucky Rural Housing USDA Loan Guidelines on Foreclosure, Bankruptcy short-sale below Kentucky Rural Housing Loans require 3 years completion date after the sheriff sale of home.  A Deed in Lieu foreclosure also requires 3 years from completion of sale. Short Sales require  3 years from completion date of short sale date. A Chapter 7 or 13 bankruptcy requires  3 years from discharge or dismissal date -- Joel Lobb Senior  Loan Officer (NMLS#57916) EVO Mortgage 10602 Timberwood Cir Ste 3, Louisville, KY 40223  phone: (502) 905-3708   kentuckyloan@gmail.com  Company ID #1738461 http://mylouisvillekentuckymortgage.com/

Short Sale and Kentucky USDA Rural Housing Mortgage Requirements for a Home Loan Short Sale Applicant must present documentation of their full release from the creditor involved. If the creditor is Rural Development, the applicant must contact the Central Servicing Center for evidence of full release. There is not a specified waiting time but the applicant must meet the normal credit, capacity and collateral requirements. The credit report must indicate a zero balance from the creditor. Chapter 13 A satisfactory performance history for one year of the pay-out period and MUST be discharged. The minimum of two (2) credit scores on RHS loans Minimum score is 640 – Loans without a score are not eligible.  The following are indication of unacceptable credit history and must be carefully investigated: More than one payment being more than 30 days late in the last 12 months  A foreclosure or Chapter 7 bankruptcy in the past 36 months (not allowed). ...