Fannie Mae and Freddie Mac make people wait seven years after a foreclosure to approve a new home loan, but the Federal Housing Administration will approve loans after three years, providing the buyer has established good credit and the ability to pay the mortgage.
Full Story: http://www2.realtoractioncenter.com/site/R?i=-vX0VLfcSskC8LVPjjMCsg
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Housing is one of the most basic requirements for the survival of human beings. Housing is especially significant for those who fall under the rural poor category. This is because shelter, in the form of a house, provides them with dignity of life, removes the fear of abandonment and gives them a sense of belonging and security. The housing shortage in India is one of the most important issues faced by us today.
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