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How FHA Home Loans For Those With Bad Credit Work Finance Articles | February 4, 2013 The economic crisis has affected everyone, lowering credit scores and narrowing loan opportunities. Buying a home may be harder, but there are options Nike Pas Cher France , not least FHA home loans for those with bad credit.
Even those of us who had once been a reliable, honest borrower have been affected by the economic crisis. Not least, we have seen our credit scores fall. What chance then of buying a new home? Thanks to FHA home loans for those with bad credit, the chance is quite good.
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What Are FHA Loans?
The whole idea behind getting home loans from the Federal Housing Authority (or FHA) is that people who would otherwise struggle to secure funds to buy a home have an avenue open to them. An FHA home loan for those with bad credit is an ms your job has been held for at least 2 years, while any foreclosures and bankruptcies are at least 3 years old.