I'm sitting here scratching my head, your wife can co-sign as many FHA loans as she wants - as long as she is a blood relative. We see parents co-sign an FHA loan for all of their kids at one time. Make no mistake, when you and she sign, you are promising to make the payments if the owner occupant borrower defaults. If they default and you don't step to the plate, your credit will be at risk, as well as, any assets you have. The only reason her mom would want her to lie is to say she is an occupant co-buyer, and then, yes, that is the number one type of fraud in our industry now. So much so, as of June 7, 2010, Fannie is requiring post occupancy verification. If anyone still thinks it's okay to twist the rules, they're a day closer to picking out their orange jumpsuit.



Not so. Any one person can only have one maximum LTV FHA loan at a time. There is one exception, and that is a property settlement agreement where it can be demonstrated the party purchasing has been out of the marital home (with an FHA loan) for a period of 6 months. Verified by bank statements from 6 months ago, or a piece of mail received. But someone can have multiple FHA loans, but only one of those loans may be at a 96.5%. (Obviously, as values rise and fall, it is possible, but not at the time each loan is taken out).

Paula Cole's lament is so true. What happened to the men in our society? Where have all the cowboys gone?

True, but she's also gay,no?