I have been working on a US Bank - FHA Short Sale since 12/10.  Seller's employment contract was up in January 11, and was not going to be renewed.  Because of the unemployment situation at the time the family made a decision to become missionaries in Africa, therefore decided to sell their home, because of the market they of course owed more than the home was worth.  Their income was reduced drastically and they had to cover their own living expenses in Africa through donations they generated.

I sent in a short sale package in December 2010.  In January, February, March and April I was continually told that the US Bank FHA department was backed up and it would take another 12-16 weeks.  On August 1, I received an email stating that the file had been denied due to excess income.  WHAT EXCESS INCOME.

Anyone out there have a more direct line to US Bank - FHA Short Sale Department.  I am going to submit a whole new package, any suggestions at all would be appreciated!!

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Missionaries who make to much income!  Never heard of any missionary making to much income for anything.  US Bank is one of my least favorite lenders.  I've had one or two decent negotiators, but in general the others have been bad.  I would go over their head.  1st, escalate to a supervisor, I have a couple contacts there if needed.  If you don't get an answer quickly, find out who the investor is on the loan.  Ten months is ridiculous to wait for an answer like that.
It is FHA.  Any contact information you have would be great.  Have escalated it at least a half dozen times in the last 10 months, and have found a supervisor but they have been of little help.



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