Have scheduled foreclosure sale date of June 5th for FHA insured BofA loan. Was told FHA requirement is loan mod app first, which must be denied before FHA Short Sale will/can be considered. Have already started BofA "hoop jumping" and submitted loan mod app but wondered about this protocol.
FHA waterfall protocol for loss mitigation options. Loan Modification -> Short Sale -> DIL
Thanks Brett! Appreciate the prompt and informative feedback! Totally answered the question!!