FHA Denial for Surplus of Income - Short Sale Superstars2024-03-29T14:34:15Zhttps://shortsalesuperstars.com/forum/topics/fha-denial-for-surplus-of-income?groupUrl=mrcooper&commentId=3468065%3AComment%3A389343&x=1&feed=yes&xn_auth=noYou can resubmit those....how…tag:shortsalesuperstars.com,2017-10-11:3468065:Comment:3893432017-10-11T14:08:20.583ZMinna Reidhttps://shortsalesuperstars.com/profile/MinnaReid
<p>You can resubmit those....however streamline would be the easier way to go as she will have a hard time with FHA as a non owner occupant unless she moved for employment...FHA does not play nice when owners move out for no good reason. </p>
<p>As long as her credit score is below 620 and she is at least 90 days behind she should qualify for a streamline.</p>
<p>You can resubmit those....however streamline would be the easier way to go as she will have a hard time with FHA as a non owner occupant unless she moved for employment...FHA does not play nice when owners move out for no good reason. </p>
<p>As long as her credit score is below 620 and she is at least 90 days behind she should qualify for a streamline.</p> 1st review her revised financ…tag:shortsalesuperstars.com,2017-10-10:3468065:Comment:3895112017-10-10T18:13:54.360ZMichael Hayleyhttps://shortsalesuperstars.com/profile/MichaelHayley218
<p>1st review her revised financials to see if she really cannot afford the payments. then...</p>
<p>2nd: provide a letter of explanation why the error was made.</p>
<p>3rd: you are now going to have to prove every line on the financial disclosure. Go through her bank statements and credit card statements for the past 3 months. Organize every charge into the categories of "food", "utilities", "rent", and so on. I suggest on a spreadsheet. Provide copies of your statements and the summary as…</p>
<p>1st review her revised financials to see if she really cannot afford the payments. then...</p>
<p>2nd: provide a letter of explanation why the error was made.</p>
<p>3rd: you are now going to have to prove every line on the financial disclosure. Go through her bank statements and credit card statements for the past 3 months. Organize every charge into the categories of "food", "utilities", "rent", and so on. I suggest on a spreadsheet. Provide copies of your statements and the summary as proof. </p>
<p>Once you have a denial like this, you are going to have to fight hard to get the approval. </p>
<p></p> From the lenders' perspective…tag:shortsalesuperstars.com,2017-10-10:3468065:Comment:3895082017-10-10T16:09:45.550ZThom Colby CA Brkr 888-391-5245https://shortsalesuperstars.com/profile/ThomColby
<p>From the lenders' perspective, why would they do a short sale when she rented a new place - why isn't that rent going towards the mortgage? </p>
<p>Did she have to relocate for a job? Why didn't she include ALL of her expenses to begin with? Did no one tell her she needed to?</p>
<p>From the lenders' perspective, why would they do a short sale when she rented a new place - why isn't that rent going towards the mortgage? </p>
<p>Did she have to relocate for a job? Why didn't she include ALL of her expenses to begin with? Did no one tell her she needed to?</p>