All Forum Posts by: John Anderson

Hi all,

I have a friend in a unique situation, and was wondering if anyone could provide clarity here.

My friend bought a home in 2019 using a FHA loan. However, about 8-9 months later he unfortunately lost his job due to Covid and went into FHA mortgage forbearance. He fortunately found a new gig in another city and moved out of the home about 13 months after initially buying it, and put it up for rent. He informed the bank and the insurance company, and both were ok with it.

My friend lived in the home and did not rent it out for 12 months following its purchase, per FHA guidelines. However, because of the mortgage forbearance he did make 12 monthly mortgage payments on it prior to moving/renting it out. Is this allowed, or did my friend violate the terms of his FHA agreement?

Any guidance would be greatly appreciated.

Hi all - two years ago I bought my first home in the Chicago area using the FHA loan program.

I recently switched jobs and am now working for a company based in Seattle.  However, as part of my employment agreement my new employer has allowed me to continue to live here.

I recently moved to Wisconsin to be closer to family, and would like to purchase a new home here. I understand that FHA rules allow you to take a second FHA loan under certain circumstances, including moving over 100 miles away. I'm wondering if I would be able to obtain a second FHA loan under these circumstances?
 

@Wayne Brooks what if house to house is still under 100 miles (say 92-93)?

Apologies if this is a silly question. I'm moving cities due to a new job and would like to purchase a new home through a second FHA loan.

On Google Maps, the new city is about 90 miles away from my current city. Can I still qualify for a second FHA loan or will lenders deny me?

Hi all - can anyone recommend a good local bank in Columbia, SC? I'm looking to do a refi of a duplex investment property I purchased. FMV should be between $80k-85k. Thanks!

Hi - does anyone have any recommendations on a good credit union in the Bay Area? I'm looking to refinance two out-of-state properties (each between $75k - $150k).

Specifically, I am hoping to find a credit union that has low closing costs, and that can even provide a single blanket loan that covers both properties.

Many thanks in advance!