Frequent Contributor
Posts: 299
Registered: ‎05-28-2012

USDA Guaranteed

Is it possible to do a USDA guaranteed on a foreclosure?

Starting Score: 492 02/12
Current Score: TU: 668 (FICO), EQ: 668 (FICO). EX: 651(lender pull 9/27/12)
Goal Score: 660

Posts: 9
Registered: ‎09-27-2012

Re: USDA Guaranteed

We are getting usda on a REO so yes you can. Keep in mind the property has to pad their appraisal. We have a leak in the garage (from bathroom) that we are hoping is not considered "a hazard" on the property. If it is then fannie mae has to fix it for usda to approve our file. We are patiently waiting for the appraisal to happen but sandy had other plans and the power company isn't giving priority to turning on gas and power for appraisal. =/ thankfully there was no flooding or damage to the property or neighborhood.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+