FHA loan with BOA. Now, being told that the loan was purchased by Altisource and due to service release to Altisource. How can a loan type change without the mortgagor refinancing? Just doesn't make sense?
Being told that the new investor will not accept 84% of the as-is- appraised value and not even sure that 88% will be sufficient. BOA negotiator having us keep the $750 HUD incentive, but stating that they "try" to follow the HUD guidelines, but cannot promise as Altisource could deny.
Thank you for your help!
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Replies
Kristy,
Call me if you want and I will go more into depth.
864-485-9283
National Pool
Winning Bidder
Awarded Bid (Percentage of UPB)
Awarded Bid (Percentage of BPO)
102
Altisource Residential, L.P.
53.04371%
68.02000%
http://portal.hud.gov/hudportal/documents/huddoc?id=sfls2013-2nsrrf...
Possibly part of this -
https://portal.hud.gov/hudportal/HUD?src=/press/press_releases_medi...
Kristy,
This is possible. It's called the 601 program.
Brett@ishortsalenow.com
310-564-639
www.ishortsalenow.com