Thye have told me my borrower has to try HAMP first and then HAFA, but clients does not want to try HAMP, he wants to go straight with HAFA.
Any answers would be appreciated.
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It would have to be a Freddie or Fannie loan. If they were not denied or unable to make the agreed payments on a loan mod, they will are not eligible for HAFA
Despite closing 7 HAFAs already in 2011, I have to say that HAFA implementation is deficient and misguiding. Servicer 1 do this, servicer 2 do that... and bla bla bla.
I emailed Suntrust contact mentioned ([email protected]) in this forum last week and I got a call back today by a guy named Michael at loss Mitt (no further contact info) who stated he has been involved (at some point I don't remember) With Hafa implementation, so here are his guidelines and advise:
Finally, I will have to call my seller and confirm that HAFA is not a option. I never promised HAFA, so I will just inform him of the status. I hope this information is valuable for my colleagues and good luck to all!
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