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11-29-2008, 05:58 AM
| | Junior Member | | Join Date: Nov 2008
Posts: 1
| | | We are considering a FHA partial claim... any advice?
What is the name of your state (only U.S. law)? Washington
Has anyone done a partial claim?
Does it hurt your credit?
How hard is it to qulify?
How much do they split your loan??? |
11-30-2008, 01:44 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,453
| | Quote:
Originally Posted by lilolone  What is the name of your state (only U.S. law)? Washington
Has anyone done a partial claim?
Does it hurt your credit?
How hard is it to qulify?
How much do they split your loan??? | **A: you need to provide more specific info on your particular circumstances. |
12-01-2008, 09:16 AM
| | Member | | Join Date: Feb 2002
Posts: 446
| | | A) Your credit is already hurt as you are at least 4 months behind before doing a partial claim.
B) You need to show surplus income. It would have had to have been a temporary loss of income. You now have the income to make the mortgage payment going forward, but cannot afford to pay off the arrearage.
C) HUD will advance up to 12 months PITI to bring you current. That amount is secured by a 0%, deferred second/third loan. No payments due until you sell/refi. | |
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