Shortsalenurse's HAFA Blog

November 1, 2012

SHORT SALE WARS – Or just a Great Idea- FHA SHORT SALES , Are they logicial?

Filed under: Uncategorized — shortsalenurse @ 9:52 pm

In this video George shares what could be a “Catch 22” in the FHA Short Sale Rules.   The timeline (rule)  to remove an “IRS” Tax Lien may not be long enough to obtain the approval.  The IRS takes some time and has some rules to remove the lien that are not in sync.  Without an approval Buyers do not fully commit to the loan process to and get and  Appraisal.   The IRS makes it necessary to provide proof there is no equity in the transaction before they will remove the lien.    Is there a way to fix this?    FHA requires an appraisal be done to prove the lack of equity and a title report to prove the transaction can close but sharing the Lien information and getting a speedy release, well that is what this video is all about.   Will a Government Employee hear the logic and make a small change in the system that will create a saving benefit and save the FHA insurance pool, and thus the taxpayers  millions.   Will this change make it easier for people to transition out of their homes when they have to leave?   Watch the video and see how you feel!  Do you know some one who may be able to fix this, and get the well deserved credit?   Share this video with them!   George wants nothing for this idea, the benefit to his client to finish this short sale, and make a more comfortable move will be more than enough.

Update –  No Word from the Government –  But the Bank worked with the Problem!  See the Video Below for Detail

George Kenner, Broker Associate  Keller Williams Realty,  Lic. 01229951

2060 Otay Lakes Road, Chula Vista, Ca. 91915  * 619-723-5714 * G.kenner@yahoo.com

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