Quote:
Originally Posted by Mistress
In September I'll be at my present job 18 years, 20 in the industry. Hatt's right we don't have the whole story and I'll just bet there was a boat load of credit card debt. In any event that couple needs an abacus.
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If anything there is stupidity on the perps part, to qualify for the FHA they must have conservitive debt ratios and decent credit, they may have piled on debt after they bought the home but they should have done something about the unsecured debt. In most cases they can buy a new home 2-3 years out of bankruptcy and foreclosure but the part they don't know is the owe uncle sam the insured part of the mortgage.....forever if I am not mistaken.