Upcoming Foreclosures

Michigan Mortgage / Bad Credit / HUD homes / HELP!!?

My husband is in Michigan waiting to immigrate us from Canada. He earns approx $3200 net per month, has been at the same job since Nov 2007, but in the same LINE of work for over 10 yrs (owned his own business for approx 5 yrs during that time). He scored at approximately 600 on his credit reports due to old problems with his business. It shows $11,000 indebtedness on the report. How can he qualify to take advantage of Michigan's foreclosures and purchase a HUD home through FHA with the $100 downpayment program. Should he take the MSHDA pre-purchase credit repair course first? How long are these courses and do they make a difference to lenders? We need to get pre-approval for the mortgage in writing and will have the $1000 EMD and $100 downpayment as required by FHA. Unfortunately, since I'm still in Canada with the kids, I can't be added to the mortgage application until after November..and we have to be IN a new place by mid-January when the kids move over.

Public Comments

1. I suggest contacting a mortgage company that does not charge for pre-approval and ask them the questions you pose. http://mumloans.com is an affiliated lender of my broker. According to their website they do not charge for pre-approval. They will be able to answer your questions and give you some options.