Orange, California (PRWEB) August 20, 2013
Broadview Mortgage, a California based mortgage bank, has announced its adoption of the new "Back to Work" announcement from the federal government.
This program was announced by FHA by way of the 15 page Mortgagee Letter 2013-26 on August 15th, 2013.
Scott Schang, a branch manager for Broadview Mortgage, says that this will open up the market for people who previously could not get government financing. "This is a welcomed announcement because this means that people who may not have the most perfect credit, but have an excellent ability to pay, can get government financing."
Qualifying for Back to Work is to ask for an exception due to extenuating circumstances. Extenuating Circumstances are a 20% drop of income due loss or reduction of income for 6 months.
"Like with any exception, the best place to go is a qualified lender. There are certain guidelines that people need to be aware of in order to qualify for an exception," says Schang.