FHA Short-Sale Rules Protect Against Misuse

January 7, 2010

Source: Jerome Nagy
Phone: (202) 383-1233
Email: jnagy@realtors.org

New rules from FHA on using federally backed financing after a short sale aim to help troubled FHA borrowers while protecting against misuse by those looking to take advantage of market conditions. FHA borrowers who enter into a short sale so they can buy another house at a low market price face restrictions on when they can apply again for FHA financing. Access the rules, in Mortgagee Letter 2009-52, at www.HUD.gov. For more info contact Jerome Nagy, jnagy@realtors.org

Back to News from GKAR