On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into the facts behind doing a short sale on an FHA insured loan. We cover the positives, negatives and give you “hidden” tips and tricks when discounting these properties. Listen in as we also cover the how to “escalate” an FHA insured file so you can speak directly to HUD’s national office, one of the only remaining lenders that still require our sellers to go through HUD counseling. We also touch on the maximum amount of money that FHA will give attorneys and title companies, whether or not an FHA insured property needs to be listed in order to qualify for a short sale, whether or not the homeowner needs to be in default to start an FHA short sale. The “truth” behind whether or not a “VACANT” FHA insured property can be filed for a short sale. We also cover if Bank of America negotiates FHA insured properties on their Equator System and more.

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