Interesting way that the Florida mortgage short sale was able to close with the verification of the income that meets the debt ratio. This is always the way that Florida short sales with the FHA loans should be verified prior to the down payment assistance. There are a few more points that Florida short sales and FAH lending go hand in hand so to speak.
Look for the discount on the FHA preforeclosure and you will find the short sale is enabling the borrower who is in default on the FHA loan to sell and avoid foreclosure. The lost note and the reestablishment clause in the foreclosure pleading in Florida was deficient for several reasons and fortunately Joe was able to file a foreclosure answer within the 20 days that Florida foreclosures require. This in effect enabled the Florida short sale to close on time.
Florida foreclosure financing is available this week and it is also helpful with avoiding Florida foreclosure. Ask Joe and he will tell you that FHA loans in Default will lead to foreclosure filings. Save Joe’s home and save another FHA loan from foreclosure via a short sale.