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The FHA's best advice is to do whatever you can to save your home before allowing it to go back to the bank or be foreclosed upon. But for those in more serious situations in danger of a foreclosure, there is a way to give the property back to the bank.

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December 11, 2019
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FHA.com is a privately owned website, is not a government agency, and does not make loans.

How Can I Avoid Foreclosure?

FHA Common Question #40

For those in more serious situations in danger of a foreclosure, there is a way to give the property back to the bank. The FHA home will revert to the bank and you won't be able to save it-but the process is less damaging on a credit report than actual foreclosure.

FHA guidelines require you not be in default on another FHA mortgage, and you must already be in default and not qualified for other options. According to FHA home loan rules, this truly is a last resort, but a select few will need to exercise that last resort in some cases.

The FHA's best advice is to do whatever you can to save your home before allowing it to go back to the bank or be foreclosed upon.

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FHA Loan Articles and Mortgage News

FHA Loans for 2020: Mortgage Expenses You Can Plan For

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Problems That Can Delay Your FHA Home Loan (Part Two)

December 4, 2019 - In a recent article we discussed issues that can delay the approval or closing date of your FHA home loan. Do you know what these potential problems are? In Part One we discussed how bankruptcy, foreclosure, and appraisal problems may affect your mortgage loan.

Problems That Can Delay Your FHA Home Loan (Part One)

December 3, 2019 - When applying for an FHA home loan, there are issues that can slow down the progress of your mortgage, whether you are applying for a mobile home loan or an FHA One-Time Close Construction Loan. Some may be preventable in the planning stages of your loan.

FHA Loans in 2020: Pay Attention to Your Debt-To-Income Ratio

December 2, 2019 - Your FHA loan options in 2020 include new purchase loans, reverse mortgages, cash-out FHA refinance loans, and the One-Time Close construction loan if you want a house built for you. But planning ahead is key and you will need to examine and work on the amount of debt you carry