Buy a home one year after short sale, bankruptcy or foreclosure, back to work loan program details, how can you qualify, when you apply, can it be used for purchase and refinance, how can you get the loan?

1. Buy a Home One Year After Short-
sale, Bankruptcy or Foreclosure
Shashank Shekhar
CEO, Arcus Lending

2. About Arcus Lending
• Arcus Lending is Mortgage Lender based in San Jose,
California
• Products Offered: Residential Mortgages- FHA,
Conventional, VA, 203K, HARP, HomePath, Reverse
Mortgage, CHDAP, 80/10/10
• Geography Served: California, Washington and
Oregon
• What are they known for: Legendary customer
service, quick closing and rates that are consistently
better than the leading banks

3. Ab About Shashank Shekhar
• Shashank Shekhar is the Founder and CEO of Arcus
Lending
• Amazon.com Best-selling Author and “Top 40 under
40 Mortgage Professional” 2 years in a row
• National speaker, and a blogger who is frequently
tapped for his expertise by various national and local
media including FOX, CBS, ABC and NBC

4. • The information contained within this document
is for educational purposes only. Every attempt
has been made to provide accurate, up to date,
reliable and complete information. No
warranties of any kind are expressed or implied.
Readers acknowledge that the author is not
engaging in rendering legal, financial or
professional advice.
Disclaimer

5. Agenda
• What is the “Back to Work” loan?
• How can you qualify?
• When can you apply?
• Can you use it for purchase and refinance?
• How can you get the loan?

6. What is the “Back to Work” Loan
• If you had a Foreclosure, Bankruptcy, Short Sale or a
Deed in-lieu – you may now be able to qualify for a
mortgage to buy a home one year after that incident
• Federal Housing Administration (FHA) recently
announced “Back to Work” loan program that would
help some borrowers to buy a home quicker than
earlier imposed waiting restrictions

7. How can you qualify?
You may be eligible for an FHA insured mortgage if:
• You can document that the delinquencies and/or
indications of derogatory credit are the result of an
Economic Event - An Economic Event is any
occurrence beyond the borrower’s control that
resulted in Loss of Employment, Loss of Income, or a
combination of both, which caused a reduction in
the borrower’s Household Income of twenty (20)
percent or more for a period of at least six (6)
months.

8. • You have re-established credit- Your credit history
should be clear of late housing or installment debt
payments, and major derogatory credit issues on
revolving accounts.
– If there are any open mortgages, it should be current and
shows twelve (12) months satisfactory payment history.
– No history of delinquency on rental housing payments; and
No more than one thirty (30) days delinquency on
payments due to other creditors;
– And No collection accounts/court records reporting (other
than medical and/or identity theft).
How can you qualify?

9. • You have completed satisfactory Housing
Counseling - You need to receive at a minimum, one
hour of one-on-one counseling from HUD-approved
housing counseling agencies.
– The counseling must address the cause of the economic
event and the actions taken to overcome the economic
event and reduce the likelihood of reoccurrence.
– Counseling must be completed a minimum of thirty (30)
days but no more than six (6) months prior to submitting a
loan application to us.
– A list of counseling agencies can be found online
at www.HUD.gov or by calling 1-800-569-4287
How can you qualify?

10. How can you qualify?
• Meet all other FHA Loan requirements – You still
need to meet all standard requirements for
qualifying for an FHA loan. To check the
requirements call us at 408.615.0655

11. When can you apply?
• The program is in effect from now till September
30, 2016

12. Can it be used for Purchase and Refinance?
• This new loan program is available only if you are
buying a new home.
• For refinancing, you need to follow the standard
waiting period. To find the details for waiting period
for FHA, Conforming and VA loans call 408.615.0655
or email info@ArcusLending.com

13. How can you get the loan?
• Call (408) 615 0655
• Email: Info@ArcusLending.com
• Website: www.ArcusLending.com
• Blog: www.LendingExpertBlog.com
• FaceBook: www.facebook.com/ArcusLending
Licensing Info:
Arcus Lending Inc, NMLS ID 1035734 and CA BRE #01857474
Shashank Shekhar NMLS ID 8176