Department of Housing and Urban Development (HUD) just released FHA loan guidelines for prospective borrowers who have experienced a small sale.
Continued here:
HUD Releases New FHA Guidelines for Small Sale Borrowers : Small …
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Secondly, the government has given you a way out of that too - after living rent free for a year or two, just do a HAFA short sale. under that program, the bank has to release any deficiency claim. ... They are using the GSE +FHA as a dumping ground for losses. HAMP will get abused and I do agree that the government would not mind if underwater borrowers default because it is just a way to taxing the middle class (the people who will pay for the losses). ...