FHA (HAFA) SHORT SALE

If you are a seller who has fallen behind on their FHA mortgage then you will qualify for a FHA (HAFA) Short Sale or Deed in Lieu of Foreclosure. This is much better than a Foreclosure or a Bancruptcy on your record.

If you are a buyer looking to purchase a Short Sale ask if the seller has a FHA  loan.

Why?

Because FHA is one of the few lenders who understand Short Sales and the process can take less time to close.

 

  • Seller must first attempt a Home Modification and either be denied, or reject offer being given.
  • FHA will approve sellers for Short Sale Consideration.
  • FHA will have the home appraised by an FHA appraiser
  • FHA will issue a Short Sale Agreement (SSA) at an approved List Price
  • FHA will give the seller 4 months to find a buyer and another 2 months to close
  • FHA will convert sellers to a DEED IN LIEU if not able to sell home.

If you would like more information on this topic then please leave a comment and I will be glad to get in touch with you.

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