How Long Once in the FHA Short Sale Program
I am a buyer's agent and we've been in contract for five months. The listing agent has been telling me the package is complete. Two weeks ago the listing agent told me the Seller had now received their notice they are accepted into the FHA Short Sale Program. She tells me the short sale package is complete. There is only one loan involved and it's with PNC. How long generally does a final approval take once a complete package is in the FHA program? The listing agent said that pnc told her two weeks. When i called PNC they told me once a complete package is received to expect 30 days. I was wondering what your experience has been.
Thank you
Replies to This Discussion
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Permalink Reply by Short Sale Superstars LLC on
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Brenda,
If an approval to participate was completed and if the negotiator has confirmed that all documents have been received and no corrections are needed on any documents or the HUD you should be getting submitted for final decision shortly. The time frame always varies. Has your file been submitted for final decision or is it pending to be sent? It's hard to fully diagnose the situation as we are not involved and it's not exactly clear where this file is at and the countless variables that could affect the transaction such as pending variances with HUD.Brett@ishortsalenow.com
310 564-6389
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Permalink Reply by Kevin - Greenville, SC on
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Five working days per HUD to review after an ATP has been issued.
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