Comment

Comment by Diane Donnelly on May 3, 2012 at 3:31am

I had the same problem.  I took pictures of the structural damage and had an engineer go out and give a quote.  I got the price from 225k to 127k due to the foundation.  

Comment by Jim Stewart on May 3, 2012 at 3:22am

My FHA short sale listing which i have under contract just came back needing major structural work due to foundation and brick cracking. Buyer is walking. Anybody have any luck in getting HUD to make a major concession on something like this? Wells Fargo is lender.

Comment by Wendy Smith on May 3, 2012 at 12:58am

The neighborhood in which my latest listing is located has gone from a nice family area to an area with government assisted rentals and not-so-nice tenants - 

the seller is young, single, female and her hardship is that she is scared of her neighborhood now - she no longer feels safe.

Has anybody seen or heard of security concerns being a viable hardship in the eyes of FHA?

thanks.

Comment by Pam Graham on May 2, 2012 at 11:09am

I've seen a 30 day late drop a score by 100 points and not go down from there. No rhyme or reason.

Comment by Michael Schneider on May 2, 2012 at 9:24am

And, I should add, Hank, if your clients want to protect their credit, then can go "Rolling 30", meaning stay 30-59 days down until closing.  Never go 60 DPD.  They will get reported to the bureaus at around 35 DPD, I think, but a couple of 30 DPDs on their bureau should not lower their score all that much, I think.

Comment by Michael Schneider on May 2, 2012 at 9:13am

Yes, 30+ Days-Past-Due, which means "missed two payments", which many people state as 60 days late, because of the "two payments".

No exception on the 30+ DPD rule.  It is stupid, no question, but it's the FHA.

Help?  Tell you clients to save their money for the relo, compliments of the US Taxpayers.

Comment by Kevin - Greenville, SC on May 2, 2012 at 8:44am

Hank,

The Servicer who is telling you that is wrong.  It's 31 days late.

Comment by Hank Montgomery on May 2, 2012 at 8:14am

Help...we have received an Authorization to Participate, we have an offer and our HUD1 meets the net requirement. My clients are current on their mortgage...their hardship is relocation due to job loss.

This morning I am told: "Hank please advise your clients that in order to close a short sale on their property, FHA requires them to be 60 days late at the time of closing. If they continue to make their payments on time they will not be able to proceed with a short sale, as they are demonstrating an ability to afford the property."

HELP...PLEASE? 

Comment by Bryant Tutas on April 27, 2012 at 12:20am

Hi Mike. Never. I would ask for clarity.  Here's the chart for allowed FHA PFS fees. It does not have a dollar amount on it.

Comment by Nick Mancuso on April 26, 2012 at 4:57pm

I have question..This is a FHA/HUD file. Has anyone EVER been told or heard of, (mind you this is coming from BofA) Closing fee are limited to $750 or less. This includes all of the title charges and attorney fees?

• ‹ Previous
• 1
• …
• 49
• 50
• 51
• 52
• 53
• …
• 98
• Next ›
• Page