I have a buyer that had lost their home 3 yrs ago. Would they be eligible for 1st time home buyer or other programs in DPR?
Possibly. Many programs define a first-time homebuyer according to HUD’s definition, which basically means they cannot have owned a home in the last three years (with certain conditions or exceptions). However, you may need to inquire with the agency or a participating lender about the credit impact of previous short sale, foreclosure or other forfeiture.
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