The Department of Housing and Urban Development which puts out the guidelines for borrowers to qualify for a FHA loan has just released some new rules for.
Read more here:
Get FHA Loan After Doing a Small Sale On Your Current Home
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Tags: department, FHA, fha loan, FHA Loan Guidelines, housing, new-rules, released-some, urban, urban development
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To make this a little easier, this means that the net amount that you can expect to get a short sale for would be approximately 92-95% of the fair market value. The amount that the seller owes their lender is not factored into this ... You should discuss this with your Realtor ® prior to making an offer on a Short Sale Property. What about a Home Warranty? If the sellers loan is an FHA loan, typically, FHA will not allow an expense by the seller to cover a home warranty. ...