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12
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Alex Hall
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12
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Subto FHA problem

Alex Hall
Posted

Hey Lenders. I am reaching out for your expertise regarding a situation involving a seller from who I purchased a property subto an FHA loan in March of last year.

The seller is currently attempting to purchase another property but is facing challenges due to the inability to hold two FHA loans simultaneously. Additionally, his credit is not the best, and he has limited funds for a down payment.

Any potential options or solutions that may be available? Your insights would be greatly appreciated.

Thank you!

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6,755
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,828
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6,755
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

In short, you screwed him and his future it seems.

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