Update on FHA loan

[jpracer37]

So far so good. Everything still on track with FHA loan. Appraisal has gone thru and just got the Insurance set up. Called loan officer today to see how much of an impact our BK had on the loan. Apparently not much. Even asked how Underwriter has viewed our BK and she said everything is still good to go, with the way everything was IIB, even with our old mortgage being included. The reason I asked was so we wouldn't get surprised on anything. So here's my question, we close on new loan, nothing gets asked about old home that was IIB, do I just do nothing on it and call Citi or what. I mean no one has asked about it being a rental or if I'm going to sell it and Underwriter nor LO has said anything about having to being able to cover both loans or anything. I have seen on FHA.com that a conventional loan IIB is seen as a foreclosure and you have to go 3 yrs. out, even on actual HUD guidelines it mentions this, but you have to read a couple of other guidelines to get to the result.

[justbroke]

I really can't say. You'll just need to see if the loan actually closes.