My client owns a 2 family home which has served as his primary residence since he originally purchased the property. Until recently a tenant occupied the second unit. Five months after initially submitting a complete short sale package to MetLife, we finally received a decision. The file was DECLINED because "rental income appears on both prior years' tax returns", citing FHA guidelines. However, does this 18 month rental rule apply with a 2 family house which is the owner's primary residence? We opened a ticket with HUD. Any insights?
You need to be a member of Short Sale Superstars to add comments!
**********************************
like buttons
Replies