Another Stab At FHA Short
Well, I'm breaking my rules again. Promised I'd not go after another FHA shortsale but here I am. Short story is the 2nd mortgage holder's balance is$24K and they will accept no less than $7K. I'm going to try and offer $5K.
Of course with the $1K FHA requirment for the 2nd I have to do something creative. Will 2nd holders allow me to pay them seperately from the $1K that needs reflected on netsheet sale proceeds?
Darn old gov't requirements 
I must have missed something somehwere?...What are you referring to when you say the FHA requirement of 1k....
Thanks
anita
On the closing net sheet for the 1st mortgage holder not more than $1K can be going toward the 2nd.
Jim