Can you buy a foreclosure with an FHA loan?

Question: We went through a few weeks of bidding back and forth before someone finally said we can use the FHA loan to buy a house that hasnt been owned for more than 90 days. I am mad that all of a sudden they tell us. I looked on the FHA website and I cant find it.

Answer:
Typically, an FHA loan takes longer to process than conventional financing, and most foreclosing institutions won't wait. Check with the lender that holds the note on the home you are interested in and get the straight scoop.

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