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?
You need to be a member of Short Sale Superstars to add comments!
**********************************
like buttons
Replies
Thank you Brian and Wayne.. you confirmed my thoughts. Have a great day!
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.