FHA Short Sale And The Deficiency Judgement
We always make our short sale offer contingent on the bank waiving a deficiency judgement. I was told by one bank rep that because the loan was FHA that there would be no deficiency judgement filing. Can anyone tell me if this is true for all FHA short sales? Thanks!
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Hi Blamcat,
I have never heard that "All FHA" loans didn't have a deficiency judgement. It is my understanding that the due on sale would depend on the verabge of each mortgage.
Just as a thought, since the bank rep is so confident about this, he shouldn't have any problem agreeing to the clause being a part of your short sale acceptance letter . . . right?
Best of Success!
BAMZ