+1 vote
The state of Virginia allowed Bank of America to evict me, my high school and college aged children and my elderly mother from my home because my disability payment was not enough to cover the mortgage. My husband abandoned the home.  I did not understand the influx of mortgage financiers contacting me.  My family urged me in shame to leave.  The stress of losing our home has devastated my children, my mother and our place in the neighborhood.  I need a secure home for me, my family and the modifications required.  My goal was to return to meaningful work and launch my children.  Moving, storage, rent, changing states, lack of suitable housing, loss,and damage to belongings and legal fees have been a struggle when I am correcting my credit by paying the estranged spouses’ medical bills with my disability income.  One illness, business decline and educational expenses can land you in a neighborhood with house arrestees, pit bulls, and noisy traffic.  I no longer feel secure to age in place and care for aging relatives. I heard so many conflicting stories and could not even obtain an address to send a payment.  There was no one to trust. Certainly not HUD, Virginia Housing, People Incorporated or any other of the resources I would spend an hour on the phone with.  A hedge fund bought my house, Someone put down gravel, painted trendy colors,  severed  the 80 year old box woods and azalaeas and my classic Virginia home is for sale for 398,000.  I had put my social security disability into modifying my home for assessibility.  I survived heart surgery at the Cleveland Clinic to return to my roses, boxwoods and magnolias.  The hedge fund scavengers offered to buy anything in my home that was black when they breezed through in a back Suburban.  Just a middle class Nurse, Mother, Daughter, community and school volunteer......I want people to see me put my life together.  It seems more remote everyday.
asked Mar 7, 2018 in Low Downpayment Loans by Kathryn N. Kelly
edited Mar 7, 2018

1 Answer

0 votes
FHA requires 3.5% down payment on purchase.  Medical Collections are exempt. You do need a minimum credit scores of 580 for 3.5% down payment on purchase with FHA.
answered Mar 7, 2018 by GustanCho (106,540 points)

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