It is important to time the short sale with FHA financing. Your FHA loan must be ready for financing prior to the short sale offer. This assists los smitigation with the short sale decision and this is because the short sale financing has already been approved with an FHA mortgage loan.
FHA is not the only type of financing for a short sale transaction. FHA financing does go hand in hand with short sale financing, however, becuase the short sales take place in declining markets. Unlike conventional, FHA has no problem or LTV reduction for declining markets. Short sales and declining market indicators in FNMA accelerate a declining market. You may want to explore FHA financing for a short sale. Talk to an FHA short sale expert about your FHA loan approval prior to your short sale market.
The FHA financing and the timing of your short sale offer are important to the short sale of real estate and your success with a short sale in general. This has been another valuable message from the FHA financing information (not affiliated with FHA or the government, just a blog on FHA and the short sales that are done with FHA finaing). FHA is a great way to financing real estate and particularly the short sale of real estate.
FHA financing for first time home buyers and buy with an FHA mortgage loan.