"Yes, he can still apply. Sooner the better as it may increase the chances of the servicer being able to place a postponement request.
Reach out if you need any support.
"He can certainly attempt to! Most lenders don't respond that quickly but I did have a short sale in a similar situation and successfully closed it in 21 days from the date I listed it. I was fortunate enough to get a very responsive loss…"
Merry Christmas SSSS! I have a friend who's Largo, FL home is in foreclosure with a summary judgment already entered. The fcl sale date is over 30 days away. Can he still apply for a short sale??AllanSee More
"Yes -- use the Twitter. You also should have a case number opened with FHA -- i open mine when I start a short sale -- If you do not have one open it usually takes a few days. (days you do not have at this point) -- FHA can order a reversal of the…"
"Allan, I recently got my stalled short sale back on track by direct messaging via twitter: @Ask_WellsFargo.
Explain what you need. Send them your contact info so they can get back to you quickly. Don't include the account…"
Hi Short Sale Superstars. I need a management contact for WF. I had an FHA short sale that I was working on. The short sale approval for issued for Buyer #1. Buyer #1 subsequently cancels the contract. I had a backup contract which i promptly faxed into WF. Received a call from the processor saying they needed a HUD variance to extend the appraisal since it had just expired. On Thursday, I received an email from the processor saying the variance was approved. He also needed the PFS…See More
"Hi Luther. It's me again, LOL. The Deficit Income Test or DIT is used on all FHA short sales. You take the total take home pay of the borrower and compare that to their monthly household expenses. If they have negative income,…"
"At this point, I send the negotiator the following verbiage from ML 08-43:
Are owner-occupants of a one-to-four unit single-family dwelling with a FHA-insured mortgage under Title II of the National Housing Act. Mortgagees are authorized to…"
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