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Started by Bill Garrett in Short Sale Discussions. Last reply by Minna Reid Sep 12. 1 Reply

REO FIRE HOW DOES SPS DEAL WITH IT

Started by Dot Nicklus in Short Sale Discussions. Last reply by Brett Goldsmith Jul 5. 1 Reply

 

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Brett Goldsmith commented on Stephanie Lim's group FHA - HUD Short Sales
"The only time one is able to go below 84% NET from what I've ever seen is when there is a partial claim that is required to get paid."
Sep 13
Brett Goldsmith commented on Stephanie Lim's group FHA - HUD Short Sales
"Gurerry, let me rephrase that for you. You can get to a lower tier prior to the requested time period per the ATP by having a variance submitted. Here's an example: I've gotten 84% NET approved within 30 days of borrower being in the PFS…"
Sep 13
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"I'm confused. Why would you need a variance for 86 percent within the 30-60 day period when that's the required net for that period?"
Sep 13
Brett Goldsmith commented on Stephanie Lim's group FHA - HUD Short Sales
"@Gregg depends if NET is being exceeded or not. It's possible to go straight to 86 or 84% tier within 30-60 days but you need a variance submitted."
Sep 12
Pat Hood replied to Pat Hood's discussion Can the IRS $500,000 allowable net proceeds for a married couple from primary residence be used to offset 1099C income from a short sale?
"Minna, Thank you. Will send this on to the CPA. Pat"
Sep 12
Guerry Clegg commented on Stephanie Lim's group FHA - HUD Short Sales
"That's good to know. The last time I tried they were completely rigid, but that has been a while. Our net was about 94 pct, which made it more frustrating. "
Sep 12
Alexis Adams commented on Stephanie Lim's group FHA - HUD Short Sales
"It's hard to say as a general rule as I am sure it's case-by-case but I have seen HUD go below required net and allow concessions within the first 30 days. For example, a few weeks back I had a case with an FHA buyer where we were just shy…"
Sep 12
 
 
 

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