FHA - HUD Short Sales

Information

FHA - HUD Short Sales

HUD rules for FHA short sales, tips, experiences, etc.

Fax LOA:  918-236-3274

PH 877 622-8525

Members: 581
Latest Activity: Sep 28, 2020

FHA Preforeclosure Sale Guidelines

 

 Click The Button Now To Hire A Short Sale       Superstar To Support You.

 

7-9-13 Updated Pre-Foreclosure Sale (PFS) and Deed in Lieu (DIL) of Foreclosure - Effective 10-1-13.

FHA National Servicing Center 

(877) 622-8525 Customer Service

1-800-489-1733 Fax

1-866-808-5050 Fax for LOA

customerservice@novadconsulting.com

301 NW 6th Street, Suite 200
Oklahoma City, OK 73102
National Servicing Center:

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Please note that effective October 1, 2014, Deval LLC will no longer be HUD's National Servicing  loan servicing contractor. The new contractor, Novad Management Consulting will be your new point of contact.

 

For all Customer Service questions please contact [email protected]

FHA Contract Clause

"Sale is contingent upon the seller receiving prior written approval of Insert Name of Lender/Servicer."

FHA Listing Agreement Clause

“Seller may cancel this agreement prior to the ending date
of the listing period without advance notice to the broker, and
without payment of a commission or any other consideration if
the property is conveyed to the mortgage insurer or the mortgage
holder.” The sale completion is subject to approval (under HUD
guidelines) by the mortgagee.

 

Discussion Forum

NOVAD as 2nd lien

Started by Noelle Battle. Last reply by Brett Goldsmith Nov 22, 2019. 5 Replies

Hud/FHA declining to do short sale

Started by Savita Savita. Last reply by Brett Goldsmith Sep 26, 2018. 1 Reply

Comment Wall

Comment

You need to be a member of FHA - HUD Short Sales to add comments!

Comment by Smitty on September 19, 2012 at 7:32am

Am I losing it?  I could SWEAR that we had to get financials from those who may be on the deed but not on mtg if they live in the home.  I can't seem to find that requirement now.  Was it just in my mind?

Comment by Smitty on September 8, 2012 at 3:33am

Kevin I just emailed you.

Comment by joe beauchamp on September 7, 2012 at 1:02pm

OK, with the phone number above, I thought I'd call FHA before dropping this - very nice and friendly rep..?? Hmmm. I like that. Anyway, no, FHA does not have such a rule and she encouraged me to send an ATR for them to get on the bank. Wow! Is this an agency in **our** gov't?  ;-)

Comment by joe beauchamp on September 7, 2012 at 12:45pm

WF will not go forward with my FHA SS because the seller's pay stub does not have his hourly rate on it. They claim that FHA will not accept it. OK, I know FHA is crazy, so this could be, but is it true? It says he is paid hourly, has his hours and the pay - WF rep says not good enough. Apparently, FHA calculators aren't as good as ours?  [Just take the $1500 hit that funny "/" button and put in the 133 and then hit that other funny "=" button and as if by wizardly magic, an hourly rate will appear!]  ;-)

So, is this some WF processor smoking more than usual, or does FHA really have some weird demand that you cannot have a short sale if the seller doesn't have his hourly rate printed on his pay stub???

Comment by Wendy Smith on September 7, 2012 at 3:28am

LOL, yeah, that'll teach 'em!

Comment by joe beauchamp on September 6, 2012 at 4:17pm

What the heck ya goin for here, Kevin? Compiling a heap of human frustration and tragedy to see if a high concentration will implode and create a blackhole? Good thing you added "working on" - 18 months sometimes seems like a morning break for some of those guys. ;-)

I really like their sense of humor when they lower the seller incentive because they took months to respond to you.. That'll teach that seller to sit around calling and hoping the negotiator will respond...

Comment by Kevin - Greenville, SC on September 6, 2012 at 3:39pm

Please contact me if you have recently closed (within the last 18 months) or are currently working with a Seller on a Bank of America FHA Pre-Foreclosure Sale.

[email protected]

Comment by Jessica Jablonski on September 4, 2012 at 4:31pm

I have a US Bank - FHA - short sale. Is there any chance that they will allow the seller to rent the property back from the buyer? The ATP does not indicate whether or not they will allow this. Or do they always make you sign an Arm's Length that states this is not allowed??

Comment by Vicky Rhodes on August 21, 2012 at 8:03pm

they offered the seller a loan mod and he said no...

Comment by Kevin - Greenville, SC on August 21, 2012 at 7:54pm

Curious.  Why did Flagstar say no?

 

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