HAFA on 2nd lien

I have a client with a 1st and 2nd lien.  today we discovered that the first will be paid off in full -- can I submit to the 2nd for HAFA?

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Permalink Reply by Short Sale Superstars LLC on August 9, 2013 at 5:53am

Rojane,

        Unfortunately, I don't see this being a real option with the 2nd lien holder if the 1st is being paid off in full. What are you trying to accomplish with the 2nd lien holder? Are you looking for a relocation incentive or a waiver of deficiency for your client?

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Permalink Reply by RoJane Maybee on August 9, 2013 at 5:54am

Just the waiver, but I think we should be OK as we will have some left after paying off the 1st to perhaps satisfy them.

Thanks!

Permalink Reply by Kevin - Greenville, SC on August 11, 2013 at 3:44pm

HAFA won't be an option if there are sufficient proceeds to pay the first in full.

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