I am involved in negotiating an FHA-backed small sale:
1) Is there a central web site operated by HUD or FHA that can answer general questions regarding FHA loans and small sales? When I google, I get way too many ads and fake site pretending to give excellent info.
2) Does FHA give moving expenses to the owner if the small sale closes? If yes, how much? (I had heard a rumor that they give 00, but not substantiated.)
3) I know that HUD makes the owner take a course before they agree to a small sale. How do I enroll her? I'm sure the answer is available on the right website (again question 1!)
4)The owner did not list with MLS. She did try to sell in Craigslist a few times. Will FHA make her list with MLS for 90 days before they approve any small sale? If so, the auction will occur first. Do you reckon they would waive that requirement.
I know lots of questions. I would be very appreciative of helpful answers. Thank you!!!
Addendum: I believe she may be required to get "counseling" from HUD before agreeing to a small sale (not a small sale "course" — sorry for confusion.)
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