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Real Estate Investing Forums
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SS on FHA loans
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Topic: SS on FHA loans (Read 1343 times)
cruzvarian
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Posts: 204
SS on FHA loans
«
on:
October 04, 2007, 06:32:14 pm »
I've been working on this SS and come to find out it's an FHA loan with HSBC and the homeowner vacated last weekend!!! I was told that a lender on an FHA loan will not even look at a short sale once they find out it's vacant. What does anyone know about this? Is the homeowner screwed. I thought we could get some rental furniture in there or something before the BPO, something. Any ideas
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reiauctions
Member
Posts: 888
Re: SS on FHA loans
«
Reply #1 on:
October 05, 2007, 08:18:02 pm »
Correct. If the owner vacates a house with a FHA loan, you cannot do a short sale. Don't know that there is anything you can do about that, besides having them move back in. And since a short sale is not a guarantee it may end up being for nothing.
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Tom Wood
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