NSP FAQ
Q

If a prospective homebuyer can obtain a first mortgage but has had a foreclosure in the last five years, is the person eligible to purchase an NSP property?

Date Published: October 2012

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A

Typically, if a prospective buyer can qualify for a first mortgage, they are eligible to purchase an NSP property.  However, some NSP grantees may provide mortgages or other financing mechanisms using their own credit standards which may not allow for a past foreclosure.Typically, if a prospective buyer can qualify for a first mortgage, they are eligible to purchase an NSP property.  However, some NSP grantees may provide mortgages or other financing mechanisms using their own credit standards which may not allow for a past foreclosure.


Tags: NSP Homebuyer Assistance Programs - Counseling of Homebuyers

FAQ ID:

536