Seller is enrolled into a special FHA loan modofication plan. Can they still do a short sale

I have a client who has an FHA loan with Bank of America. Just found out that they are enrolled in a special FHA loan modification/ forebarance. Can they still do a PFS short sale? Bank of America said the borrowers need to decline the Modification to proceed with the short sale - BUT since they were/ are approved for the loan modification - they can "retain" the home.

Advice please.

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Permalink Reply by Albert Clark on August 8, 2013 at 4:11am

Jason, I have the same issue now with an FHA loan for my clients. Were you able to get this settled? If so, what did you need to do to overcome this modification situation?

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