FHA helps rebound buyers get back in homes

This pisses me off. We moved for a job from Arkansas to Ohio a year ago. We could not sell the one in Arkansas, so we rented it out. We have not been late a single time even when our renter was several times. We are living in a house under contract to buy it. We have no other debt besides the house in Arkansas.

I have tried to get a loan twice now. First time was told that we had to show that the house in Arkansas was now an income property with stable rent income. Well after a year of having a renter in it, I went back to the bank and they now say we have to have two years of history of stable rent income. We can actually afford both mortgages but the bank says we do not qualify due to not being behind on the house in Arkansas.

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