If you or someone you know are looking to buy a home again after suffering a foreclosure, you’re in luck. The Federal Housing Administration, also known as FHA has much more relaxed guidelines for borrowers who may have experienced a period of ill luck, but who are secure enough to jump back into home ownership again.

Known as the “Back To Work” program, this option is perfect if you’ve experienced anything like a short sale, foreclosure, Chapter 7 or 13 bankruptcy, or forebearance agreements.

This second chance program is perfect for applicants who’ve gone through unemployment or who’ve struggled with reduced income.

If you fall into any of these circumstances, you may qualify:

• First time homebuyer
• Suffered a foreclosure within the last 12 months (that’s right only 12 months)
• Suffered bankruptcy in the past 12 months
• And more

To get the ball rolling, all you have to do is speak with an approved lender.