HUD & Suntrust Short sale question - approval - Short Sale Superstars2024-03-28T09:20:55Zhttps://shortsalesuperstars.com/forum/topics/hud-suntrust-short-sale-question-approval?feed=yes&xn_auth=noI would take a look at the se…tag:shortsalesuperstars.com,2017-03-29:3468065:Comment:3857032017-03-29T19:58:36.569ZRebecca Robertshttps://shortsalesuperstars.com/profile/RebeccaRoberts
<p>I would take a look at the seller's financial documents. FHA may be looking at the amount they are paying in rent and thinking that they could be paying that towards the mortgage. It may be that FHA wants to get the owners to move back into the home and request a loan modification/workout agreement rather than just let them do the short sale. If the seller's sent docs directly to the lender then get copies of what they sent so you can review them. Be sure to look closely at the bank…</p>
<p>I would take a look at the seller's financial documents. FHA may be looking at the amount they are paying in rent and thinking that they could be paying that towards the mortgage. It may be that FHA wants to get the owners to move back into the home and request a loan modification/workout agreement rather than just let them do the short sale. If the seller's sent docs directly to the lender then get copies of what they sent so you can review them. Be sure to look closely at the bank statements. I have had some sellers say they don't have money to pay but their bank statements show a different story. </p>
<p>Once you look at the sellers financials you will probably have a better idea if you should just resubmit the short sale with a detailed explanation so FHA can agree to an exception for them not occupying the home, or if the seller needs to move back into the home and try to do some other kind of workout agreement.</p>