Borrowers are eligible for a new FHA-insured mortgage if; 1. they were current on their mortgage and other installment debts at the time of small sale on their p ..
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Breaking News from HUD Regarding Buyer Eligibility AFTER Small Sale
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With the passage of new amendments to both RESPA (Real Estate Settlement Procedures Act) and HUD rules and regulations, short sale lenders and negotiators may get confused as to why we reflect credits on page 1 of the settlement statement. ..... ($4000 married filing separate). $8000 ($4000 married filing separate). First-time Buyer Definition for Eligibility. May not have had an interest in a principal residence for 3 years prior to purchase. Same. Current Homeowner ...