A new rule by FHA, taking effect on applications dated July 1st or after, will begin to crack down on anyone with collections debt. When applying for your Tulsa area mortgage, if you have unpaid collections accounts that total more than $1000 (including medical collections), you could have difficulty. For more information about this new FHA rule and how it may affect you, contact your Tulsa mortgage banker or your Tulsa realtor. You may also read more at The Baskin Report.
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