FHA - REO department
Hello everyone,
I was working on a short sale that went to sale this week. I called the courts and they advised that the property was not sold at auction and it was returned back to the lender Chase. I called the REO department as Chase and I was advised that they "gave it" back to FHA. Does anyone know the number or department I would need to speak to at FHA. My buyer is still on board.
Has this scenerio had to anyone?
Replies to This Discussion
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Permalink Reply by John Edelman on
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I am a little confused - I am not sure how they could "give it back to FHA" if they did not foreclose. If they did not foreclose, then the ownership should still be with the homeowner.
I would call the foreclosing attorneys office and verify whether it actually got foreclosed or not. If not, you should be able to continue with the short sale process.
By the way, since it was an FHA short sale, did you have the property in the PFS program? -
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Permalink Reply by Paola Martinsen on
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Here is the link to HUD homes per state:
http://portal.hud.gov/portal/page/portal/HUD/topics/hud_homes
I agree with John's comment. First gets whats so with the home status. It sounds like it went to auction, it wasn't sold to a third party so the home went back the the beneficiary (Chase) and since the investor was HUD they manage their own inventory, therefore it doesn't go through Chase's REO department. -
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Permalink Reply by Alexander Max on
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call local HUD office and start there!
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