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There are an increasing number of FHA short sales in Colorado. When dealing with an FHA short sale you must qualify/notify the buyer’s agent of the rules regarding the “FHA bail-out”... aka short sale. FHA short sales will take longer to process. Expect an additional 5-10 business days more than the typical short sale. Not only do the banks have to approve the short sale, but the FHA department has to as well. There are 2 HUD documents needed from the sellers and in some cases the seller will have to participate in HUD participation classes before the short sale can … (2 comments)
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