FHA & Shorts

Foreclosures, Short Sales, Tax Foreclosures
1

Talking to lender on a short sale when negotiations came to a halt when he said its an FHA loan and it must be at least an 82% payoff.

But yet in talking with him he eluded that they COULD do a short sale below 82%.

So…is this just a tactic or is this going to put an end to this one?

sounds like double talk to me…Any help?

2

An FHA loan must net the lender 82% of the appraised (by the lender) value. Has nothing to do with loan amount.