FHA - HUD Short Sales Discussions (138)

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NOVAD as 2nd lien

Hi Superstars! Looking for your guidance.  I've never negotiated with Novad before.  They are the 2nd lien holder, Ocwen is the 1st.  Has a…

Started by Noelle Battle

3 Mar 6
Reply by Jason Sanseverino

FHA short sale with Partial Claim

I am working on a potential listing which the seller was approved for a FHA HAMP loan mod a little over a year ago and there is a 50k silen…

Started by Mike Rosania

10 Feb 21, 2017
Reply by Jim Stewart

Reverse Mortgage with HELOC

I have a reverse mortgage short sale with Champion Mortgage. There is a HELOC with Suntrust. Champion is stating they do not allow junior l…

Started by Lisa Jalufka

1 Jan 31, 2017
Reply by Brett Goldsmith

61 Days in Marketing, HUD refuses to accept less than 88% net - FSD in 2 days

I marketed a PFS for over 60 days and finally received two offers.  We countered them to ask for highest and best and submitted the highest…

Started by Robin M. Willis

3 Dec 12, 2016
Reply by Dean E Eshelman, CPA, CDPE, IRES

What areHUD/FHA allowable fees on seller side of HUD-1/Settlement statement

Does anyone have a list of allowable fees to put on HUD1/Settlement statement for seller side..example- Attorney Fees, Title lien search,etc

Started by Thomas Turner

3 Nov 24, 2016
Reply by Thomas Turner

Short sale with deceased borrower?

Unusual situation: home owned by husband and wife for many years. Refinanced in 2009 with FHA loan via BOA. BOA failed to get wife on note.…

Started by Kim Noonan

7 Nov 2, 2016
Reply by Brett Goldsmith

Allowable and Disallowable costs

I have had this problem several times and do not know how to escalate it. Many lenders interpret the line on allowable costs, "Up to 1% of…

Started by Guerry Clegg

0 May 19, 2016

Denial on variance from FHA. What is my next step?

I have a file that was denied by Wells Fargo as the variance was turned down by FHA most likely because the homeowners do not live there an…

Started by Tom Tock

8 May 4, 2016
Reply by Ismael Medina

Borrower's Incentive Compensation & NET Question

I received ATP for $50k list price with HUD netting $44k by 2/21/14.  They are offering the homeowner a incentive of $3k.  There are no Jr.…

Started by Flor Melgar

5 Jul 9, 2015
Reply by Ismael Medina

members of LLC required for FHA short sale?

actually I know the answer, they are required for the buyer....does anyone have a link to where this is at online? There is an LLC buyer o…

Started by Craig Bartels

2 Mar 3, 2015
Reply by Craig Bartels

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