I have an FHA short sale with nationstar received an ATP recently. The negotiator told me we need to net 84% of appraised value now the ATP stated it needs to net atleast 88%. Also the owner notified me there is a foreclosure sale date set. Even though  the ATP states we have till end of October 2016 to submit an offer. I have previously done FHA short Sales but never had any problems like this?

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Hey Al! What exactly is the problem you are having? Per FHA guidelines 84% is the bottom tier of the pre foreclosure sale program. Doesn't that make things easier than hitting the 88% NET? Keep in mind that if you drop below 88% they likely will not allow any relocation incentive towards the seller. Also, the foreclosure sale date should be on hold if the ATP is issued. You may want to check with the attorney or trustee handling the foreclosure.

If you need any assistance or information, feel free to reach out.

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Thank You for your super fast reply. 84% worked well because all the past due hoa and condo fees would be covered with the offer we have. Do you think its possible to drop to 84%?

Yes, the 84% tier is baked in the PFS program. If you have not made it to that tier yet in the PFS programs time frames, the servicer would need to submit a variance to allow you into a lower tier now.



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