Tag: FHA short sale

FHA or HUD Short Sales

Hello everyone this is Kelly Cook with the Cook & Associates Real Estate Advisors, your real estate specialist. You can find us online at www.KellyCookHomes.com. We specialize in helping homeowners find alternatives to foreclosure through the means of a short sale. The topics we are specifically addressing today are HUD or FHA short sales. FHA is backed by HUD or Housing Urban Development. HUD calls the shots but FHA is the marketing name for the type of loan many borrowers use to purchase their property. FHA is very popular because there is a low down payment when obtaining a mortgage to buy a house. Right now the FHA loan limits are only 3.5% down and if a seller wants to contribute to the buyer’s closing cost assistance the buyer can truly only get into the property for 3.5% down which is amazing. However, because very few people that did an FHA put much money down, there are a lot of FHA short sales. So HUD is very specific when it comes to short selling an FHA loan. So if you have an FHA loan out there and you are considering short selling your home, please talk to a specialist. Don’t talk to a new agent who says they are a specialist but really has maybe done one short sale in their entire career. Talk to a specialist like us who have done over 400 short sales over the past several years and have several contacts and not just with banks that service your FHA loan but directly with HUD. so give us a call today we would love to chat with you about your short sale situation with your FHA loan or even your VA loan as VA is also backed by HUD as well. HUD has very specific procedures.

The great thing with doing a HUD, FHA, or VA short sale is that you can receive up to $1,000 back at closing for doing a short sale. So they will actually pay you to do a short sale. Give us a call we would like to help you out. Our number is 480-442-9868 or you can email us at info@cookandassociatesaz.com. You can also go to our sister website at MyHomeValueCalculator.com which will tell you instantly what the value of your property is in today’s market. Thanks and I hope you have a great day.