Estimated HUD settlement

Foreclosures, Short Sales, Tax Foreclosures
1

On a short sale I am working on, the mitigator is asking for an estimated hud settlement, as she stated “…to estimate where the money is going.”

This one lost me, have been searching around to find out what this hud settlement is, but have not found anything specific.

Have any of you done these before? Is there a specific form this mitigator is expecting?

Please advise. Thanks!

2

She wants you to submit a Hud-1. It will change later, but the prelim will give them an idea of the money involved.

The form: http://www.alta.org/consumer/hud_1.pdf
A mini booklet on the form: http://www.hud.gov/offices/hsg/sfh/res/sc3secta.cfm
cliff notes and audio: http://www.alta.org/consumer/hud1.cfm

HTH

3

Thanks for the fast reply!