You have collections on your credit report so you automatically assume you will not be eligible for an FHA loan. After all, collections make your credit score drop and they look bad on your credit history. While both of those statements are true, they do not prevent you from getting a loan from the FHA under certain circumstances. Just like everything else, the FHA requires explanations, if your explanations are worthy enough for the lender to not determine your loan risky, you may still be … [Read more...]