June 19, 2012

FHA Short Sales

In order to obtain any “Cash for Keys’ type payment for your FHA short sale, you must at least qualify for the Department of Housing and Urban Development’s short sale program called the “Pre-Foreclosure Sale Sale (PFS) Program.” By applying to your lender for a short sale, you are automatically applying for acceptance into this program if you have an FHA mortgage. You may qualify for the PFS short sale program if:

  • You are 31 days late on your FHA mortgage.
  • You are in default because of an unavoidable and “adverse” financial situation. These include, but are not limited to, job loss, illness or some kind of situation that resulted in income reduction and can be documented and verified. See more short sale hardship reasons.
  • You are occupying a house, townhouse, condo, duplex or four-plex with an FHA loan. Exceptions to this rule are granted if it can be shown that the reason you are not living in the property is the same reason you’re not making your payments. For example, loss of job, job transfer, divorce, death). In addition, the property cannot have been purchased as a rental or have been used as a rental for more than 18 months before your acceptance into the PFS program.
  • You have only one FHA-insured loan. You may request an exception if you acquired an FHA-insured property through an inheritance or are the co-signer on an FHA-insured loan.
  • You are not a corporation or a partnership. You may request an exception to this one by issuing a written request to HUD’s National Servicing Center.

FHA Short Sales: Check your eligibility now.

To obtain information about your eligibility, please fill out this form. You may also phone in this information to 702-675-8211.


Your lender works with the government agency to approve your FHA short sale.

All of this information can seem very daunting so if you would prefer to contact us to discuss your specific situation, you can do so in 3 ways:

  1. Call us at 702-675-8211. We’d be happy to do a quick, confidential interview with you to discuss your FHA short sale.
  2. Request a callback from a Las Vegas Short Sale Specialist.
  3. You head start by completing the form below and then requesting us to call you back to discuss your possible FHA short sale scenario. Be sure to let us know what is the best time to phone you back.