FHA additional 4k seller incentive must be specifically itemized on HUD!

You really have to watch every detail on these FHA's where they are giving the extra 4k seller incentive. I had the HUD sent back for a revision to move the incentive from Line 514 to somewhere between lines 505-509! Really??It must follow the exact guidelines they require or it will delay your approval!

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Comment by Sonia Shanahan on April 28, 2012 at 9:30am

It was BofA.

Comment by Ed Leavy on April 24, 2012 at 8:12pm

Hi Sonia,

I am closing on a HUD-90045 FHA short sale this month. I would like to get a copy of the incentive agreement from your negotiator. Who is serviceing HUD in the short sale for you? Wells Fargo, SunTrust or one of the other big banks?  I have room in the net to get the buyer more then the $1,000 outlined in the HUD-90045 Agreement to Participate. Thanks Ed eleavy@remax.net

Comment by Sonia Shanahan on April 17, 2012 at 9:55pm

They cleared it we closed last Friday. 

Comment by Ben Benita on April 17, 2012 at 12:50pm

so did they actually approve and clear the $4000, or, is that what you guys are trying get?

 

would be EXCELLENT if they allow and approve that much......the guys I know that do LOTS of short sales said they have only seen up to $1500 approved for FHA recently.

 

Please keep us posted!!!!

 

Comment by Sonia Shanahan on April 17, 2012 at 12:18pm

It is a new incentive and I am not sure what the qualifications are to get it but she had to sign a form for the extra incentive which I can send you and she no longer got the $1,000 that was originally offered. I know she was in a severe hardship situation. 

Comment by Yoni Kutler on April 17, 2012 at 9:39am

Sonia,

So if we put on line 514 a $4000 FHA seller incentive, they will allow that in most cases?  Is there any specific criteria that the seller or deal must meet, or this is offered on all FHA short sales to the seller?  Thanks so much for this tip!

yoni.kutler@ygkutler.com

Comment by Ben Benita on April 17, 2012 at 7:57am
ANchance I can get you to e-mail me a copy of the HUD wher eyou got hte seller the extra $4000.....
first time I have heard of that for an FHA short sale (normally it is only $750).

Thanks - BBenita@Comcast.net

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