When your investor is USDA or rural housing

Your investor does not participate in HAFA HAMP or MHA. Your investor is not FHA or HUD. though there will be no deficiency pursed there is also no reward for selling in cash form like FHA, HUD, VA and UT HOUSING, or HAFA.

The wait is LONG! Minimum time into investor for decision making is 5 weeks. That means your short will be about 4 weeks longer than a Fannie and 3 weeks longer than a Freddie. Remember the time in with the investor is only a small part of the overall process.

IF your investor is FHA-HUD-UT HOUSING and you short sale

HUD

 If your investor is FHA, VA, HUD, UT HOUSING your short sale will be different than the standard short sale. You don’t qualify for HAFA, HAMP or MHA in anyway. Your short sale is deficiency free and the treasury makes up the loss. You may be eligible for cash at closing of $750 or $1000.