"Got a property where the first mortgage is with ocwen. I only need to short the loan 12,000 less than what is owed. The 12000 is less than 2% that is owed. Do you think Ocwen will short the loan without going through all the short sale formalities…"
"reason why I ask is the bank says seller concession needs to be at 1% but that was on a previous conventional offer. My new offer is an fha offer and buyer is asking 3% at 3% it would still meet net. "
"Started Working on a FHA short sale with a foreclosure sale date scheduled in well over a month. Bank has agreed to do a short sale and 1st legal has been filed. We have submitted an offer and the bank has order an appraisal. My understanding is the…"
"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."
"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…"
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?See More
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