“Good for this Banker”
Hi Joe, do you do 203K loans? I’m look for the waiting period for bankruptcy/foreclosures. Is it the same as an FHA loan? Our bank doesn’t do these loans, but I want to be able to refer my client.
It is never easy for a bank to tell a client they can’t assist them, but it is always wise to refer a client to a lender that can. Keeping a banking relationship with a customer is extremely important as there is a lot of competition.
For this client, they had a foreclosure 5/15 which means an FHA loan can be obtained if credit has been re-established and the credit scores are over 500.
