Real estate blog entries tagged with fha loan by Wendy Rulnick, "It's Wendy... It's Sold!" (Rulnick Realty, Inc.)

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fha loan: HUD SHORT SALE GUIDELINES - 02/08/08 07:43 AM

Do you own a HUD-FHA financed home, and need to do a Short Sale? Here is a summary of the requirements do perform an FHA-insured HUD Short Sale or "Pre-Foreclosure" Sale:
You must be delinquent 31 days or more delinquent at the time of sale. You must list the property with an un-related Licensed Real Estate Broker You must actively market the property for four months (up to six).
For the first 30 days of marketing, the short sale lender (mortgagee) may only approve offers that will result in a minimum net sale proceeds of 88% of the "as-is" appraised Fair Market Value (FMV). During the next … (32 comments)

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