Just wondering if any one has been through a successful FHA short sale and has insight to share??
Currently I am working with a Short Sale realtor to try and get approved for FHA Pre-Foreclosure Program to short sell my home (A little background: Bought the house in 2007, owe 212K, house currently work 90K)
The house is under contract with a cash-down/conventional loan buyer and the Lender has APPROVED my Short Sale Package, but it now needs to be appraised and approved by FHA...this is where I start to get worried/have questions. My Realtor says not to worry and that from here on out its just "following the rigid steps for FHA" but doesn't go into detail. I know I need to be living in my house for the appraisal and approval (which is troublesome because I REALLY need to move before my maternity leave is up which is in a few weeks) but other than that I am clueless.
any one have any insight or experience in this process? Thanks!