FHA - HUD Short Sales
Information
HUD rules for FHA short sales, tips, experiences, etc.
Fax LOA: 918-236-3274
PH 877 622-8525
Members: 581
Latest Activity: Sep 28, 2020
FHA Preforeclosure Sale Guidelines
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7-9-13 Updated Pre-Foreclosure Sale (PFS) and Deed in Lieu (DIL) of Foreclosure - Effective 10-1-13.
FHA National Servicing Center
(877) 622-8525 Customer Service
1-800-489-1733 Fax
1-866-808-5050 Fax for LOA
customerservice@novadconsulting.com
301 NW 6th Street, Suite 200
Oklahoma City, OK 73102
National Servicing Center:
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Please note that effective October 1, 2014, Deval LLC will no longer be HUD's National Servicing loan servicing contractor. The new contractor, Novad Management Consulting will be your new point of contact.
For all Customer Service questions please contact [email protected]
FHA Contract Clause
"Sale is contingent upon the seller receiving prior written approval of Insert Name of Lender/Servicer."
FHA Listing Agreement Clause
“Seller may cancel this agreement prior to the ending date
of the listing period without advance notice to the broker, and
without payment of a commission or any other consideration if
the property is conveyed to the mortgage insurer or the mortgage
holder.” The sale completion is subject to approval (under HUD
guidelines) by the mortgagee.
Discussion Forum
NOVAD as 2nd lien
Started by Noelle Battle. Last reply by Short Sale Superstars LLC Nov 22, 2019. 5 Replies 0 Likes
Loan is TOO FAR DELINQUENT to qualify for a Preforeclosure Short Sale?
Started by Neil L.. Last reply by Short Sale Superstars LLC Oct 3, 2019. 2 Replies 0 Likes
Hud/FHA declining to do short sale
Started by Savita Savita. Last reply by Short Sale Superstars LLC Sep 26, 2018. 1 Reply 0 Likes
Comment Wall
Comment
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Comment by Kevin - Greenville, SC on September 19, 2014 at 8:16am
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Comment by Robin Lemmons on September 19, 2014 at 4:46am
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Good to know. I have never encountered something like this in all the short sales I have done.
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In my humble opinion the Homeowner is the only party that doesn't benefit from this program. Only HUD does, the Servicer (files a claim for reimbursement) and the new Buyer.
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click on the link(s) i posted earlier.
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They don't. They convey the Loan back to HUD and then it's sold to a third party.
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How can a servicer change the terms of the loan?
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once it's no longer a FHA Loan HUD has no sway as the case w/these. I have made top brass there and with NAR well aware of it though.
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Contact FHA directly and file a complaint. FHA will get right on investigating it.
405-609-8438. I dealt with Ms Chandler.
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Many more times that I can count.
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Frank,
I aways dig deep. using their own words against them has helped.
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