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Author Topic: SS on FHA loans  (Read 1343 times)

Offline cruzvarian

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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   :banghead

Offline reiauctions

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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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