FHA Preforeclosure Sales Program (Short Sales)

Despite a recovery and expansion of housing markets around the country, REALTORS® are continuing to see a number of homeowners who need to pursue Federal Housing Administration (FHA) preforeclosure sales or "short sales." A short sale is often the best option for homeowners who are "upside down" on mortgages because a short sale may not hurt their credit history as much as a foreclosure. As a result, homeowners may qualify for another mortgage sooner once they get back on their feet financially.

The FHA preforeclosure sales program has specific requirements that homeowners must meet prior to participating in the program. The following resources will provide information on FHA short sales and links to help you navigate FHA's short sale website:

FHA Short Sale Dual Agency Policy

Loss Mitigation Policy & Guidance

HUD Preforeclosure Sales Program

NAR Letter to FHA Commissioner Galante Regarding FHA’s Single Family Loan Sales Program

Advertisement

Global

Find the information, education, and connections you need to thrive in the growing field of international real estate.

Voice for Real Estate: January 6, 2020

Video
Get takeaways from NAR's first-ever Real Estate Forecast Summit and annual conference; learn about key federal budget wins for real estate; and more.