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“I Had a Foreclosure” – You are Not Alone

Did you have a foreclosure? Did you feel like you were alone? You might be surprised to find out how many people had foreclosures in recent years. During the economic recession many people suffered from events out of their control, such as job loss, reduction in wages, or serious medical issues resulting in overwhelming bills. These financial hardships made it impossible for people to keep up with their mortgage payments. In fact, in 2011 nearly 4,000,000 people experienced a foreclosure. Four million – that’s a lot of people! In comparison, prior to the recession, in 2000, about 500,000 people foreclosed on their home. The recession obviously impacted millions of Americans and resulted in millions of foreclosures. You are not alone!

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Back to Work Mortgage Lenders Achieving Sustainable Loans

Are you regaining financial stability and considering looking for a new home but concerned about what lender will help you? Are you concerned that you will end up with a loan that you won’t be able to manage long term? At 1st Alliance Lending we take pride in helping people who have recovered from a financial hardship create a sustainable loan so they can look forward to living in their new home for the long term. Here are the reasons we are the back to work mortgage lenders you should select as your partner for the life of your mortgage.

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First Time Home Buyer: How We Work for YOU!

#1 – Staying Power

As you begin your journey on the first time homebuyer path, you’ll begin to see how the process can take a long time. Lots of paperwork, financial disclosures, and state policies are just a few of the important steps involved with buying your first home. At 1st Alliance Lending, we put you first—and keep you first! We don’t bring you into the office to discuss options and possibilities only to leave you hanging when the paperwork gets rough or the lending options change. Our lending agents are trained to have the staying power to journey with you the entire way!

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Understanding the FHA Back to Work Program

During the financial crisis that gripped us during 2008, millions of homeowners had to deal with things they never thought they would have to consider. Some had to file bankruptcy in order to keep their financial house in order, others lost their homes to foreclosure and still others dealt with the financial crisis by selling their homes under a short sale agreement. Unfortunately, under previous regulations, most of these homeowners were doomed to be ineligible for a loan for periods of up to ten years. However, in 2013, the FHA offered some relief to these homeowners by offering the FHA Back to Work program.

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What You Need to Know About Buying a First Home?

Going from being a renter to being a homeowner is a big step and one that people work hard towards. In addition to saving money for your down payment, there are other items that are critical when buying a first home including:

1. Your credit report – if you are considering buying a home, it is a good idea to obtain your credit report and review it for potential errors and problem areas. Keep in mind, the better your credit score, the better terms you may get on your mortgage.

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What You Need to Qualify with Back to Work Lenders

Sometimes, we all need a second chance, especially if we have been crushed by a financial crisis. Let’s face it, while many people lost their jobs during the latest recession, thousands more have returned to work and are working on rebuilding their financial lives. However, before you can approach Back to Work Mortgage Lenders there are very specific things you must do in order to qualify for a new loan. Some of these include:

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