If you lost your home in a foreclosure or short sale, Uncle Sam says you deserve a second chance.
Forget about waiting three to seven years after losing your house to qualify for a government-backed mortgage. Let’s face it, 2020 is a long time to wait in our increasingly boom/bust housing market.
The FHA has reduced the waiting period to just 12 months — provided you can show you lost your home due to an “economic event” stemming from the recession. Full story for BostonGlobe.com subscribers.
Scott Van Voorhis is a freelance writer who specializes in real estate. For the full Boston Real Estate Now blog, visit www.boston.com/realestate.