In a reverse mortgage short sale, does the purchase price from a buyer have to match the full appraisal value of the home? The app
is $270K but the contract of sale is $260K. Does the buyer have to come up with the extra cash? The first appraisal was at $260K but the seller's lender needed another app and it came in at $270K. by jlabbamonte664 from Belmar, New Jersey. Jan 12th 2016
William J Acres (William_Acres)
#75 ranked lender in Arizona - 8,728 contributions
HUD/FHA has the final say, but the guideline is a minimum of 95%.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
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