"I have had this happen ONCE and when I pressed, they said the reason was the seller, in their mind, did not have a hardship. Although the house was gutted due to mold, and unpaid liens were filed for mold remediation and the home was not really…"
"Yes, this can happen for many reasons. They apparently feel they are catching wind of something they are not okay with. I'd be escalating the file to see why it m,ay be failing audit and if anything can be done to correct…"
We have been working on short sale (FHA) for a while now and back in September the lender declined the short sale and removed it from equator for reason: failed internal quality review. BOA had everything they needed, offer was high enough and all fha rules were followed and filed was submitted for final appoval. That buyer walked and we had a new buyer and the SAME THING happened yesterday. It was declined for failed internal quality review and immediately removed from Equator. Has this…See More
"Does anyone know what the current fha seasoning requirements are on a double close? I know back in 2010 they did away with the requirement for one year but I cant find any info for 2014 to know if it was extended."
"Lower the offer. Rules are clear for FHA and if net is met, you are on your way. Variances usually start at taking weeks and unless you have a real good reason for them to give you extra money, you aren't going to get it."
"I understand that the bank paid so they are entitled to them etc etc.. My client is an investor and he has the opportunity to put about $2,200 more in his pocket.
So I was just wondering if anyone knows if…"
"Pat, the fact that the bank has paid the taxes off the HUD shouldn't matter to your buyer client -- the bank still paid the taxes. And since the bottom line to the bank is now higher there should be a quicker and easier approval…"
The buyer has been trying to but the property for a while now. Before December the taxes werent paid so the full amount of the taxes came out of the lender net. The lender paid the taxes so the taxes came off the HUD.....which brings the lender net up.He wants to put that money back in his pocket and have the lenders minimum net around the 84% required. So- he could either lower his offer amount or add in some buyers closing costs which would require a variance.So my question is: which is…See More
"HI Tyra- had already started with a Hafa Short sale and actually disputed the value and the dispute worked. Then all of the sudden they wanted it to be put in Hubzu. So we sent in a letter signed by the borrower stating they didnt…"
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