Nationstar HAFA will not adjust price

HI Guys, if anybody out there had a similar situation please share it with me. I had a HAFA Short Sale approval originaly with Aurora Bank, right after they gave me the approval they transfer it to NATIOSTAR Mortgage. well buyer started to do his process and the appraial came back $9,000 lower. I talk to negotiator and he said, they will not do any adjustments and that I will need to start all over again as if it were a neew offer and we have a foreclosuer date on 08/20/2012. Any advise, comments, or you had similar situation what will be best thing to do. I will really appreciate anything, thank you and have a pvery productive and nice day.

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Permalink Reply by Bryant Tutas on July 26, 2012 at 1:15am

Is the buyer's appraisal correct? Is the purchase subject to the property appraising? Nationstar is honoring Aurora approvals but any changes will start the process over. You may be fighting a losing battle with this one.

I would work on:

Getting the buyer to close at the agreed price
Resubmitting asap if that doesn't work
Postponing the foreclosure

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Permalink Reply by Luis Martinez on July 26, 2012 at 6:11am

Thank you Bryant, that is what I'm getting from Natiostar negotiator. I will have to work with buyer coming up to appraised price.

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