Flagstar FHA HELP
Does anyone know who I can contact in the Short Sale FHA department of Flagstar?? I received an approval to participate and faxed all of the documenation required, they are telling me now after I confirmed 3 times they had everything they needed that they are now denying the postponement of the foreclosure sale date of 05/11/2012!
Replies to This Discussion
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Permalink Reply by Kevin - Greenville, SC on
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Time to get HUD involved.
FHA National Servicing Center
(877) 622-8525 Customer Service
(469) 674-4451 Fax
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To participate in the program, mortgagors must be willing to make a commitment to actively market their property for a period of 3 months, during which time the mortgagee delays foreclosure action. Mortgagors who successfully sell to a third party within the required time may receive a cash consideration of up to $1,000. Mortgagees also receive a $1,000 incentive for successfully avoiding the foreclosure and complying with all the requirements of this ML. If the property does not sell, mortgagors are encouraged to use the deed-in-lieu of foreclosure (DIL) option, providing the title on the property is marketable. By following procedures and time frames included in this ML, a mortgagee may submit a FHA insurance claim and be compensated for the difference between the sale proceeds and the amount owed on the mortgage (including accrued interest and reimbursable costs). Source: Mortgagee Letter 2008-43.
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