Which members must show 24 months of on-time payments to be PH-qualified?

To be PH-qualified, members must demonstrate a responsible payment history, which is measured by showing 24 months of on-time payments. This requirement is crucial for various scenarios, including those who have faced significant financial setbacks.

Members who have filed for bankruptcy need to show diligence in managing their finances post-bankruptcy, and a consistent track record of on-time payments over the past 24 months is a strong indicator of financial responsibility, indicating a rehabilitation of credit behavior.

Similarly, members who have had mortgage delinquencies also need to establish a renewed pattern of reliable payment, as delinquencies can significantly impact one's creditworthiness. Demonstrating 24 months of consistent payments can help rebuild trust with lenders and market entities.

For individuals who have experienced foreclosures, the situation is similar; the foreclosure itself represents a lapse in payment that indicates higher risk to lenders. Thus, having 24 months of on-time payments post-foreclosure is essential for demonstrating financial recovery.

As such, all categories mentioned in the multiple-choice question—bankruptcy filers, those with mortgage delinquencies, and individuals with foreclosures—must show these 24 months of on-time payments to qualify for the program, ensuring that all have demonstrated a commitment to sound financial management