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Posted by RoJane Maybee on August 15, 2012 at 12:07pm in Short Sale Discussions

i a meeting with a homeowner who's loan is FHA. Any suggestions or experiences to share with me?

Thanks!

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RoJane Maybee October 9, 2013 at 11:53am

Question? The homeowner is current and must move across the country due to terminally ill parents. I listed and sold the property and submitted then for the FHA short sale. The homeowner is current, but planning to skip Oct payment. The bank called today to say that FHA will not initiate a short sale unless it is:
Vacant property
Death
Divorce
Job relocation.

Ours is none of the above. He is not sure they will do anything -- is that crazy or what? Any suggestions? We have the property sold -- great price -- all cash buyer.
Wendy Rulnick August 16, 2012 at 2:56am

RoJane - They can contact their lender before contract to get the ball rolling if they want. It's called an FHA pre-foreclosure sale. We have an FHA HUD group on this site with all the specifics...

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