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Another Stab At FHA Short

tomjerry200 profile photo
  • Monday, June 30, 2003 @ 03:17 PM EDT
  • 2 Comments
Well, I'm breaking my rules again. Promised I'd not go after another FHA shortsale but here I am. Short story is the 2nd mortgage holder's balance is$24K and they will accept no less than $7K. I'm going to try and offer $5K. Of course with the $1K FHA requirment for the 2nd I have to do something creative. Will 2nd holders allow me to pay them seperately from the $1K that needs reflected on netsheet sale proceeds? Darn old gov't requirements 8-/
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  • RESolutions
    RESolutions30th June, 2003
    0
    Reply

    I must have missed something somehwere?...What are you referring to when you say the FHA requirement of 1k....

    Thanks
    anita

  • tomjerry200
    tomjerry20030th June, 2003
    0
    Reply

    On the closing net sheet for the 1st mortgage holder not more than $1K can be going toward the 2nd.

    Jim

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