Just in today!!! New changes with FHA that affects sellers who are short selling their homes. PHH is one of the lenders who will take on the new changes with FHA guidelines. Sellers who are shorting their mortgages to sell due to relocating, divorce or other type of circumstances (change in family number) can now qualify for a new FHA mortgage. They will not have a two year waiting period. Those sellers will of course will need to meet certain criteria as well as normal FHA guidelines. This is a positive change to help out our clients and keep the housing market stimulated with new buyers! Contact a local PHH lender for more details.
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