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Homeowners may have a chance to avoid foreclosure and make good on their FHA mortgages when in delinquent status. A Pre-foreclosure sale allows the owner of the home to sell the property for an amount less than the amount needed to pay off the loan.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

What is a Pre-foreclosure Sale?

FHA Common Question #37

The FHA offers homeowners a chance to avoid foreclosure and make good on their FHA mortgages when in delinquent status. A Pre-foreclosure sale is where the owner of the home sells the property for an amount less than the amount needed to pay off the loan.

You may qualify by meeting specific FHA requirements, including 2 months or more delinquency on the FHA mortgage, and an appraisal shows that your home meets HUD guidelines. This kind of sale is not automatically available to everyone. You will need to contact a housing counseling agency and/or your lender to see if your particular situation is approved for such a transaction.

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