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:
******
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.
Started by Noelle Battle. Last reply by Brett Goldsmith Nov 22, 2019. 5 Replies 0 Likes
Started by Neil L.. Last reply by Brett Goldsmith Oct 3, 2019. 2 Replies 0 Likes
Started by Savita Savita. Last reply by Brett Goldsmith Sep 26, 2018. 1 Reply 0 Likes
Comment
i agree Scott. It's sad that one has to resort to that when they should do the right thing in the first place.
I recommend incessantly berating them on Twitter until they do something about it. It sounds ridiculous, but I've found it to be extremely effective!
At that point in time you'll probably need to take it to the press, your local congressperson, shame them on social media and HUD in DC. They are losing the FHA $$ and their own publications bear that out.
We had ATP issued and spoke to the HUD director and escalation contact. It did not get us anywhere. Let me know if someone gets one of these "excessive delinquency denials" overturned !
@jason I am like Kevin, I fight to the bitter end. If an ATP was issued someone can later say it was in error and to me that is just an excuse to not approve. Escalate, Escalate, twitter, FaceBook, CFPB everyone.
So their current stance is so now they shoot themselves in their foot because of the previous actions of the homeowner?
A short sale is never over until the property is no longer in the seller's name. FHA has only two choices and they are foreclosure or short sale. the foreclosure historically nets them LESS than a short sale (this is taxpayer $). fight for it with everyone you can contact. the press, your state reps., etc., etc., etc.
Hi Dean - thanks for your response. I was surprised that the ATP was issued - and I knew it was issued in error. Based on what I was told by HUD and Brett's response below - I believe this short sale is over.
@jason. Just my opinion, but seems to me if the ATP was issued, that is an obligation to negotiate the short sale. Granted 10 years is a way long time and the reason why the homeower did not step forward sooner might be included in a statement. I certainly see why an extension of appraisal might be denied, but like I said they issued the ATP.
Thanks Brett - Most of my FHA files are only 3-24 months past due. This is the 1st time I have encountered this.
I appreciate your response!
© 2024 Created by Brett Goldsmith. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.
You need to be a member of FHA - HUD Short Sales to add comments!