FHA Short Sale DENIED - Short Sale Superstars2024-03-29T04:51:29Zhttp://shortsalesuperstars.com/forum/topics/fha-short-sale-denied?commentId=3468065%3AComment%3A385706&x=1&feed=yes&xn_auth=noIt is technically not a denia…tag:shortsalesuperstars.com,2017-03-29:3468065:Comment:3857062017-03-29T20:04:08.105ZRebecca Robertshttp://shortsalesuperstars.com/profile/RebeccaRoberts
<p>It is technically not a denial...FHA guidelines say that if the appraised value is too low ($75K less OF 50% less than the current balance due on the mortgage) than the short sale lender has to submit for a variance. Just go back to the negotiator at the bank and ask them to submit the request for variance to get the appraised value approved by FHA. Once that happens then you should have an approved price that they will accept.</p>
<p></p>
<p>If FHA won't approve the variance then Brett is…</p>
<p>It is technically not a denial...FHA guidelines say that if the appraised value is too low ($75K less OF 50% less than the current balance due on the mortgage) than the short sale lender has to submit for a variance. Just go back to the negotiator at the bank and ask them to submit the request for variance to get the appraised value approved by FHA. Once that happens then you should have an approved price that they will accept.</p>
<p></p>
<p>If FHA won't approve the variance then Brett is correct, FHA may feel that they can increase the value of the property by foreclosing and doing some basic repairs before putting back on the market as a HUD foreclosure. </p> Escalate to HUD, but many tim…tag:shortsalesuperstars.com,2017-03-12:3468065:Comment:3852692017-03-12T20:11:05.054ZBrett Goldsmithhttp://shortsalesuperstars.com/profile/BrettGoldsmith
<p>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.</p>
<p></p>
<p>Brett@ishortsalenow.com</p>
<p>310-564-6389</p>
<p><a href="http://www.ishortsalenow.com" target="_blank">www.ishortsalenow.com</a></p>
<p>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.</p>
<p></p>
<p>Brett@ishortsalenow.com</p>
<p>310-564-6389</p>
<p><a href="http://www.ishortsalenow.com" target="_blank">www.ishortsalenow.com</a></p>