A friend of mine is looking into an FHA loan for a mobile home. He is elderly, disabled, retired but receives a very good monthly pension as a result of his years of work. Several years ago, his former landlord sold an apartment complex he resided at; everyone had been EVICTED and it stayed on their records. A few years ago he rented a duplex and the SAME thing happened. The property was sold and he was in a bind. The new owner served him with an eviction that has since been on his record. His credit is in the late-600s. He is desperate for a home of his own. How can he go about getting an FHA loan? He doesn't want a big property as he's been denied for a conventional loan/mortgage given that his income was considered "insufficient" despite earning close to $4500/month. Any advice?
Read more: Can one qualify for an FHA loan in these circumstances?
