Updated over 5 years ago on . Most recent reply
Utilizing a FHA loan for a short sale
I was running some numbers on a property provided to me that can yield great results (depending on the strategy being used). However it is a short sale which is typically a more arduous process compare to a traditional sale. Bearing that in mind, I wanted to know if anyone had any experience using an owner occupant loan such as the FHA loan(standard or limited) to purchase a short sale property? If so, is there a difference in time frame utilizing an FHA loan for a short sale compared to a conventional loan? Also is the purchase price negotiable or is the bank typically firm with the price?