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can I do FHA back 2 work if I quit my job?

I needed to have surgery last year and my employer would not give me leave, even though I had a form from my doctor stating I needed 3 weeks bed rest. Long story short, I was put in an uncomfortable position and the best thing was to quit. After I had a difficult time finding work for about 4 months before landing the position I've had for 7 months as of tomorrow. Fico score is 702, and I do make less in the new position. Went from 80 a year to 72. How am I looking for the back 2 work program? Thank you!! by gturlingame3435739 from Spartanburg, South Carolina. Nov 24th 2014 Reply


Barb Lanis (BarbLanis)
#71 ranked lender in Illinois - 662 contributions

The Back to Work program does not cover voluntarily leaving a job, health related problems, divorce, etc. It's meant for people who had an Economic Event that was completely out of their control. However, you didn't mention any Economic Event. What happened? The program also only applies to those that had a Short Sale, Foreclosure, Deed-in-Lieu, or Bankruptcy. If you didn't experience any of those, then this is not the right program for you anyway.

Nov 24th 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

I spoke with my head FHA underwriting, and she indicated this is a tough call... Generally a hardship out of your control must be the catalyst for the lost of income. She indicated a WELL DOCUMENTED medical event combined with the lack of leave MAY be something she would entertain. We lend in MN, WI, and SD, so I can't help. But I assume a lender in your area MAY be willing to consider it too. But without having the full story??? Bankruptcy, foreclosure???

Nov 24th 2014
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Ken Baltes (kbaltes)
#16 ranked lender in North Carolina - 242 contributions

So you have been employed for 7 straight months and had a 4 month lapse before then due to a medical issue. Correct? If you had a continuous two years work history(salary/hourly) before the medical incident, I think you would be eligible for a regular FHA loan to purchase a home provided the medical incident could be well documented.I am assuming you want to purchase a home and if yes, the regular FHA loan would be the way to proceed. Feel free to contact me for more details: ken.baltes@cardinalfinancial.com

Nov 25th 2014
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Todd Glassman (Todd Glassman)
#1 ranked lender in South Carolina - 111 contributions

The "back to work" (BTW) program is a highly specialized and burdensome program, and we recommend it only as a last resort. However, your best case is just a regular loan with 7 months on the new job, avoiding all that extra paperwork for BTW! Call John Crivea at 864-907-1089, who specializes in this situation!

Nov 25th 2014
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