FHA and Investment property

My seller has a FHA loan for an investment property. FHA guidelines are that the borrower is required to live in the property within the last 18 months to qualify for a short sale. Borrower never lived in the property.. property was always a rental... now is vacant. Is there anyway that the borrower can qualify for a short sale?

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Permalink Reply by Wayne Brooks on November 7, 2013 at 6:15am

I'm thinking it will be tough to get a variance, since the only way he got an FHA loan in the first place was an Owner Occupant, which means he misrepresented himself in obtaining the loan.

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Permalink Reply by Jill Schappel on November 7, 2013 at 6:28am

Thank you Brian and Wayne.. you confirmed my thoughts. Have a great day!

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