A PFS, also known as a Short Sale, refers to the sale of real estate that generates proceeds that are less than the amount owed on the Property and the lien holders agree to release their liens and forgive the deficiency balance on the real estate. There are three types of PFS transactions:
- Streamlined PFS;
- Streamlined PFS for Servicemembers with Permanent Change of Station (PCS) Orders; and
- Standard PFS.
- Streamlined DIL;
- Streamlined DIL for Servicemembers with PCS Orders; and
- Standard DIL.
Any questions may be directed to the FHA Resource Center Toll-Free Telephone Number at (800) CALLFHA (225-5342) or by email to answers@hud.gov. Persons with hearing or speech impairments may reach this number by calling the Federal Relay Service at (800) 877-8339.
These definitions are located in Handbook 4000.1 III.A.2.l.i.-iii and Handbook 4000.1 Glossary/Acronyms at: https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh