Wednesday, January 25, 2012
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.
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