A Mod w US Bank

Hello.... I have a seller who is getting a divorce from the husband but they are both living in the house. The wife is about to move out but the bank wants them to do a mod and the sellers just want to short sale it. The bank said that the HAVE TO do a mod and if they don't qualify then the will still not do a short sale and the home will go into foreclosure. it is a FHA w bond money..... Has anyone heard of this or know what to do... We have a cash buyer ready to go.

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Permalink Reply by Short Sale Superstars LLC on May 1, 2014 at 10:04am

Sounds strange, I'd reach out to HUD for additional information and/or clarification. It is normal for FHA loans to go through a modification review prior to a short sale review. Typically if they are declined for a modification it should waterfall into a short sale.

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