HUD Smells The Coffee - Makes Changes To Their Collection Policy...

Good Morning!

HUD is giving us some relief on their recent collection guideline changes.

You might recall the post I made on March 22nd - telling you the new FHA collection guideliens....If your aggregate collections exceeded $1,000then you will have to pay off all of your collections - including medical!

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Someone must have told HUD that the impact of these changes would negatively effect the housing market - particualry in an election year.

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So, they are backing off these changes now - at least until July 1st, at which time they will make a decision on how they want to proceed at that point.

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All in all this is very good news for anyone who has more than $1,000 of total collections or judgement!

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To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

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To sign up for my weekly mortgage quick tips - CLICK HERE.

To download this report "4 Easy Ways To Get Someone Else To Pay Your Closing Costs!" - CLICK HERE.

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Thanks for reading, and have a great day!

 

Brett