FHA Title 1 Home Improvement Loan - Service Finance Company

I am working a short sale with a 1st lien with Ocwen and a 2nd FHA Title 1 Home Improvement Loan with Service Finance Company. I have never worked with Service Finance Company before and when I called them yesterday to inquire about their short sale process they claim that they don't have a short sale department and that FHA does NOT allow short sales or short payoff on a Title 1 Home Improvement loan. Has anyone ever heard of this or ever dealt with a Title 1 Loan for short sale?  Has anyone ever worked with Service Finance Company?  If so, could you please give me some guidance on how to proceed?  Thank you and all the best!

Views: 325

▶ Reply to This

Replies to This Discussion

Permalink Reply by Short Sale Superstars LLC on April 25, 2013 at 10:33am

Diana,

        Is this going through the Pre Foreclosure Sale program (FHA Short Sale) with the 1st?

[email protected]

www.ishortsalenow.com

310-564-6389

Permalink Reply by Kevin - Greenville, SC on April 25, 2013 at 10:46am

I'll try to get an affirmative answer from my contact at HUD and report back.  My guess is that like with a partial claim they would have to be paid in full.

Permalink Reply by Short Sale Superstars LLC on April 25, 2013 at 10:51am

I would assume the same thing.

Permalink Reply by Kevin - Greenville, SC on April 25, 2013 at 6:25pm
Permalink Reply by Kevin - Greenville, SC on April 26, 2013 at 6:56am

Title I Newsletter

Attachments:
Permalink Reply by Kevin - Greenville, SC on April 26, 2013 at 6:57am

Call 800-669-5152  X 2819 for more info.

 

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************