"Greetings, Bill! From the land of open beaches and open gyms! I did see your comments and I have not encountered such an FHA situation, I'm sorry to say. I don't see any shot, but think Brett has given you good advice!"
Forum
Nationstar/Mr. Cooper’s Fraudulent Price Validation Program (Xome.com)
Started by Vantis Law Firm in Short Sale Discussions. Last reply by Smitty May 11. 1 Reply 1 Like
Short sale and Forclosure
Started by Ferguson Azille in Short Sale Discussions. Last reply by Smitty May 11. 1 Reply 3 Likes
Getting things back in order to do Shorts again...Wow, 10 years later
Started by Melissa Polce in Short Sale Discussions. Last reply by Vantis Law Firm May 10. 2 Replies 2 Likes
WITH THE CURRENT MARKET CONDITIONS
Started by Greg Rayford-, Rayford & Company in Short Sale Discussions. Last reply by Melissa Polce Apr 15. 5 Replies 1 Like
Home Point Financial
Started by Tony Morales in Short Sale Discussions. Last reply by Tony Morales Mar 30. 5 Replies 0 Likes
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Short Sale Vs Short Pay Off
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SPS / Chase Backed Asset
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Short Sale Questions Or Help?
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"Hello, Wendy. I hope you're doing well down there in the land of sun and socially-distanced fun.
Did you see my earlier comments about the FHA owner, past due for 7+ years? Have you ever seen FHA approve a…"
"I agree with Brett's timeline below."
"I think that people who remain unemployed will be screwed and that many o thers who get pay cuts will run into trouble when it comes to a repayment plan or loan modifications. I feel many people who's income go back to normal likely will face…"
"@Brett Thanks for the feedback. Your comments affirm what I've experienced with FHA. Often a challenge navigating the one-size-fits-all rules written by faceless Federal bureaucrats. I'm not optimistic on this file, but…"
"You'd need to reach out to a HUD representative If you don't know any you can email then you need to open a ticket at NOVAD to have one reach out to you. The general concept is that once it's 40 months past due that it's a hard…"
"@Brett & @Guerry. I normally steer away from any FHA file that's this far past due, but didn't know if the military serviceman wrinkle might allow a more favorable result. Any suggestions for getting some…"
"@Bill, most reps are unaware of that guideline. HUD will decline this file when a variance to open the PFS program is submitted. Never seen a variance for the 40month rule once it began to be enforced. The file is likely a waste of time and this…"
"HUD should approve if everything else lines up. Net, contract terms, etc."
"LAST PAYMENT 7 YEARS AGO.... I have an owner relocated by the military seven years ago, thereby forced to move from his home with the FHA mortgage. The mortgage servicer (Selene Financial) suggested he now apply for a short sale. My…"
"Hi Vantis, we've never had to go through the XOME program as our MLS does NOT allow us to give up control of the listing to any other platform. Basically we cannot advertise XOME properties on mls. Once we were able to send this…"
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