Excluding debt when the balance is less than 10 months isn’t as easy as it sounds. Contact me for an example of how it can be excluded.
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Answer: [tweet-start]FHA buyers may be able to exclude debt where there is less than 10 mos. owed. Contact me for the specific rule and calculation.[tweet-end] The guideline, which is included in the reference below, is referring to the monthly payment(s) of ALL liabilities that will be paid off within 10 months. Example: Payments on loans […]