Housing and Urban Development (HUD) just released FHA loan guidelines for prospective borrowers who have experienced a small sale….
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HUD Releases FHA Guidelines for Small Sale Borrowers
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Obama's administration released dozens of pages of guidelines today to clarify their February 18th introduction of HASP. The two week delay shows that Obama's administration thought the program was important enough to rush the .... Lenders will receive incentives to allow short-sales or deeds-in-lieu instead of foreclosing. Incentives will be offered to extinguish second mortgages and lines of credit (to be determined) Participation in the program is voluntary for lenders ...