program: Changes to the FHA Short Sale Process
- 01/08/09 12:09 AM
Essentially, HUD (our federal government) has determined that their way of helping the homeowner is to dramatically reduce the opportunity for FHA borrowers to successfully complete a short sale. The 82% net to lender rule that has always been in place is out the window now. Is this what they are doing with our $750 billion dollars? There are several points to these new guidelines that should be thoroughly considered.
For one, I am not at all thrilled about the new “required” language which essentially nullifies our listing agreement. I believe this is something that the mortgage companies must (21 comments)