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What makes 1st Alliance better?

If you are looking to buy a home you should do some research on potential lenders prior to selecting one. You will have a relationship with the lender from day 1 until you have paid your final mortgage payment, which is often 15-30 years later. Regardless of your situation (first home, purchasing a home after foreclosure or short sale, etc.) you will want to make sure you are comfortable with the lender selected for your new home mortgage loan.

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I had a foreclosure and want to own a home again. What should I do?

If you had a foreclosure but want to own a home again and are wondering what steps you need to take to get there, 1st Alliance Lending is here to help. There are many steps you can take to get you back to homeownership. Here are few useful tips to get you started.

Evaluate Your Credit and Take Action

Many lenders only look at your credit score when evaluating a mortgage application. 1st Alliance Lending isn’t one of them. We believe in evaluating the whole picture. However, the fastest way to get back to home ownership is through the FHA Back to Work program. This program requires you pay all rental-housing payments on time for a period of 12 months. In addition you have to have a satisfactory rate of paying your other monthly bills (such as credit cards) on time. Depending on your situation you may also need to reduce your debt amount. If you meet the criteria for the Back to Work program you may be able to own a new home in as little as 12 months.

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How to get a new FHA housing loan after a prior bankruptcy or foreclosure

In the past a foreclosure or bankruptcy were two situations that could have prevented you from acquiring a new housing loan from the Federal Housing Authority right away.Because of this, families or individuals who wanted to own a new home a year after an unexpected economic crisis were left with no choice but to approach other financing agencies that offered loans with higher interest rates or down payments.Fortunately, the FHA has recently released a bulletin to change their policy. Now, you are allowed to apply for a new home loan with them in as short as one year after a bankruptcy or foreclosure. There are several conditions you must meet prior to being approved for this new program.

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I had a foreclosure and worry I will never be able to own a home again

Many people who have suffered a foreclosure worry they will never be able to own a home again. The good news is that most foreclosure victims will become homeowners again! If you had a foreclosure, consider taking the following steps to help you achieve the dream of owning your own home again.

Waiting Period

If you recently had a foreclosure or short sale, you will be required to wait for a certain period of time before you are able to obtain a new mortgage. The good news is that the waiting period has decreased. If you qualify for the Federal Housing Administration (FHA) Back to Work Program you can own a home again in as little as 12 months. The government has recognized that millions of people lost their homes in the recent economic downturn and wants to help people return to home ownership.

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Worried about losing your home? We’re here to help.

Are you having trouble making your mortgage payments? Sometimes changes happen in life that make it hard to keep up with your financial obligations. People lose jobs or require expensive medical treatments. Companies reduce health care benefits meaning more money has to come out of your paycheck and pocket. These unexpected changes can not be controlled.

At times, you might feel like it is difficult to keep up with your mortgage payment. At 1st Alliance Lending, we have worked with numerous homeowners to use a new mortgage loan that they can afford both now and down the road.

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What are the FHA Back to Work Counseling Requirements?

The housing collapse caused many homeowners to short-sell their homes while others faced devastating foreclosures. If this unfortunate situation affected you and your family you may be interested to learn about the FHA Back to Work program.

The government recognized the impact the collapse had on millions of Americans. The Federal Housing Administration (FHA) created the FHA Back to Work program in an effort to help borrowers purchase a new home.

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The FHA Back to Work Program Can Give You a Second Chance at the American Dream

The recession hit many families hard. All across the country, people found themselves facing situations they never expected to be dealing with, including bankruptcies, foreclosures, and the unemployment line. By the end of the recession in 2009, unemployment reached nearly 10%. And while the government has declared the recession to be over, the impact is still being felt by millions of families who suffered from bankruptcies and foreclosures over the last several years. The shock waves of the recession will be felt for years to come, too, but that doesn’t mean it is stopping people from starting to rebuild their lives. Finally, it is beginning to feel like our economy is rebounding, as people are finding work again and getting back on their feet. They are rebuilding their lives, and a big step in that rebuilding process is purchasing a home.

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New Home Mortgage Loan Lenders that Put You First

One of the biggest investments you will undertake in your life is buying a home. Therefore it is important to be comfortable with the lender you choose. The lender will be your partner in your home buying experience. If you are new to the process they will guide you through it.

All lenders will tell you they are the best. You need to figure out which one is the best match for you. We believe 1st Alliance Lending is the best and want to give you the reasons why so you can decide for yourself.

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