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FHA ATP Letter

Posted by Joan Vaca on September 22, 2014 at 8:48am in Short Sale Discussions

I have an fha short sale in with Chase.  Can anyone tell me what the normal turnaround time is for the variance to be approved.  Need to know when and how to escalate if it goes beyond that time period.

I was told by the servicer that it is 7-10 bus days.

Any feedback would help.

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Replies

  • Jonathan Katz September 22, 2014 at 5:10pm

    That time frame sounds about right. You can open up a ticket at Deval LLC if you want to get a HUD conselour involved. You will need the FHA Case # when you call which can be found on the ATP. Variance time frames vary depending on how backed up HUD is. I usually just email one of our HUD contacts and they often can just approve them on the spot depending on what the variance request is for.

    Brett@ishortsalenow.com

    310-564-6389

    www.ishortsalenow.com

    • Joan Vaca > Jonathan Katz September 23, 2014 at 3:20am

      thanks Brett.  I just heard this morning that the variance was approved and at the same time, I heard that Chase has either sold the loan or transferred servicing. I haven't been able to confirm yet. Do you know if the atp is transferrable amongst lenders, etc. or does the whole process start all over with HUD

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