HUD denied FHA short sale

Does anyone have any advice for the following sitution?

I have been working on a Bank of America FHA short sale. HUD denied the file because the homeowner proactively took a job out of state prior to him losing his job due to downsizing in his former company.  He took the job and made plans to relocate before the short sale was attempted.

I have gone through 2 different negotiators at BofA and both times they said that HUD denied the short sale.

Have any of you dealt with this type of denial from HUD??

 

Thanks for any insight you can give me!!

 

 

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Replies to This Discussion

Permalink Reply by Bill Garrett on December 21, 2010 at 7:00am

Jim:  I imagine some people may assume that you and I are brothers, as we look so similar.

Permalink Reply by Michael Schneider on December 21, 2010 at 7:01am

LOL, Bro!

 

ML 08-43 is a mixed bag, in some ways.  I often find I need to re-read it, because my understanding is flawed.  FHA is rather inflexible, so PFS (ML 08-43) is basically good, but when it's not, it's hard to get the variance from the Servicer.

Jim Schneider said:

Disclaimer: Michael and I are not brothers despite the same last name and our similar dashing good looks.

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