Has anyone ever ran into this problem doing a short sale?

Short Sale Denied because:

After its review of an FHA Roster appraisal, a mortgagee must submit a Request for a Variance through the Extensions and Variances Automated Requests System (EVARS) to approve a PFS transaction if one of the following conditions exists:  The current appraised value of the property is less than the Unpaid Principal Balance (UPB) by an amount of $75,000 or greater; or  The appraised value is less than 50 percent of the UPB.  

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Escalate to HUD, but many times HUD will deny short sales if they feel they can reduce their claim amount by the home going to foreclosure.

Brett@ishortsalenow.com

310-564-6389

www.ishortsalenow.com

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