Right now I wanted to talk to you about your FHA home loan and completing a short sale. Now, since the FHA loan is a government-backed loan isn’t call a short sale, it is actually called a pre-foreclosure sale program. The pre-foreclosure sale program related to FHA loans has been around for quite a long time, it’s nothing new. They have recently updated their guidelines to be a bit more flexible in the case of when you are having some trouble with your FHA loan. They have also increased their relocation incentive for a seller as part of a FHA pre-foreclosure sale; it used to be $1500 and now they have increased it to $3000. It is still not an enormous amount of money but it certainly helps out when you’re trying to move on in life. There are a lot of ins and outs and a lot of guidelines associated with this program and something that I’ve found is that it is extremely important that you hire people to help you that are very familiar with, and embrace, these guidelines. Some of these guidelines, the FHA is very flexible on and will bend the rules to get the short sale done but then on other guidelines they are very strict on.
Because we handle so many of these and we like to keep up to date, we are going to be able to help you out with your FHA home loan. What I would like you to do is pick up the phone and give us a call or fill out the online short sale request form and we will be in touch with you soon. As always, I would also like to encourage you to reach out to us with any other short sale or real estate related questions you may have. It doesn’t matter who your lender is or what type of loan you have, we’ve worked with it all so please allow us to put our experience and knowledge to work for you.