Buying Malibu House With FHA, Beware Of New Rule

by ritasimpson on April 15, 2012

in Latest News

If you are considering applying for an FHA-insured mortgage to buy a house anywhere including Malibu, be aware of the new policy. Well in advance of any loan application, order your credit reports from all three national bureaus — Equifax, Experian and TransUnion — or get them free at the bureaus’ jointly run online site, http://www.annualcreditreport.com. If you find outstanding collections that exceed $1,000, dispute them, negotiate them down, pay them off or otherwise make them disappear if you want to zip through the FHA underwriting minefield.

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