Will this also work with an FHA loan? We JUST started the process to get the ATP (approval to participate) in a Short Sale with Wells and the specialist DID mention that because we are not delinquent it would be a bit harder to…"
"Yes. Surprisingly. It worked for a handful of non-delinquent sellers I represented. In fact, just fyi, a HAFA does not require delinquency, and if there is no delinquency, there is nothing negative that is allowed to be placed on a credit report…"
"Yes, I've closed a number of short sales with Wells where the borrower had remained current until the end. It will come down to the policies of the actual investor that owns the loan though. Some will allow it, some won't.
"Open up a case with Chase. Open up a case with HUD by contacting novad consulting group. Make sure you have the FHA Case # handy which can be found on the ATP.
" Hey Guys, Exactly How Kevin Stated below the contact information...You may first have to fax in the 3rd Party Authorization Then Open Up a Ticket ...You Should be contacted by a Housing Specialist who will verify all things you explain…"
"You just haven't been a big enough pain in the backside yet!!!
Reach out to the number Kevin provided below, if that doesn't work, email me and I will send you a few of the people we use.
Best of luck!!!
"I am going through the same thing with one of my sellers. We have had an offer with Chase, who holds the FHA mortgage. It has been escalated 3 times - each time, it gets assigned to a new document reviewer - still no negotiator. I…"
Submitted complete file in March. Received FHA "ATP" letter in July countering Buyers offer. Buyer walked. Submitted backup offer at price listed in the ATP letter in August.File has still not been assigned to a negotiator. Sent two escalation request to Chase on Twitter with no total resolution.Seller has now been served Foreclosure papers by both the lender and the HOA.I've been working on this file for 9 months. How do I get FHA involved in this process and can they speed thing up?See More
"ALWAYS and ONLY depends on who the Investor is on the note.
Chase WILL pay up to $30,000 in relocation money and also pay up to 8% commission on their portfolio loan short sales.
You can email me directly at - Ben@ShortSaleShop.net if you need more…"
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