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Some FHA mortgage situations may qualify for help from the FHA in the form of a one-time payment from the FHA insurance fund. This will help bring your FHA mortgage up to date, but there are requirements.

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October 23, 2017
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Will the FHA Help if My Payments are Late?

FHA Common Question #19

Some FHA mortgage situations may qualify for help from the FHA in the form of a one-time payment from the FHA insurance fund. This will help bring your FHA mortgage up to date, but there are requirements. If your loan is at least 4 months, but not more than one-year delinquent and you can start making full payments once again, you may qualify for this special assistance.

Be aware that you will have to sign a Promissory Note, and you will have a Lien on your home until the Promissory Note is fully paid off. Remember that this is a one-time only offer, and to protect your credit rating for future FHA loans, FHA mortgages or refinancing packages you'll need to maintain good credit.

NEXT:  What is the FHA Connection?

FHA Loan Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
Changes to FHA Loan Rules on Collections and Judgments

October 7, 2017 - In general, FHA loan rules require the lender to determine that judgments are resolved or paid off prior to or at closing. Judgments of a non-borrowing spouse in a community property state must be resolved or paid in full, with the exception of obligations excluded by state law.

Is There a No Money Down FHA Loan Option?

October 2, 2017 - The FHA Single-Family Home Loan program does not feature a no money down option. However, there are state and local programs that may offer assistance to home buyers, first-time home buyers, or home buyers who are in financial need.

FHA Loans, Disability Pay, and Proof of Income

September 25, 2017 - There are many common questions about FHA home loans, and more than a few uncommon ones. Income verification is one area where FHA loan applicants may experience the need for more information.

Are My Tax Returns Required for an FHA Loan?

September 20, 2017 - When you apply for an FHA home loan, there's a list of documents and documentation needed to process an FHA loan application. These are the minimum needed to establish an accurate picture of a borrower's credit and payment history.

Rules for FHA Loans Following a Short Sale

September 9, 2017 - FHA loan rules for new loans following a short sale may seem complex--the rules that apply to you often depend on the status of your mortgage loan prior to the short sale. But, when is a new FHA home loan possible following a short sale?