Wendy Haisley
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First Name
Wendy
Last Name
Haisley
State
MN
City
Maple Grove
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I manage the short sale team at a law firm. We work with 300+ short sales at lenders at a time.

Wendy Haisley's Blog

HAFA short sale relocation assistance raised to $10,000 !!

Posted on January 15, 2015 at 9:23am 0 Comments

Effective February 1, 2015, if short sale is approved through HAFA, $10,000 relocation assistance funds will be paid to property occupant.  This has been increased from $3,000.  Also, new directive states senior lien can allow up to $12,000 to junior lien up from $8,500 in the past.  Treasury will reimburse first lien $2 for every $3 they provide to junior lien at short sale closing.  All the HAFA changes are available on the link below:…

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At 5:07pm on August 25, 2011, Jennifer Keefer said…

I am trying to find some information regarding a post you had commented on previously and am hoping you can help?

You had posted the following information in regards to 2nd lienholders and the amount they can receive:
"It depends entirely on who the investor is.  If it is HUD (FHA short sale), max allowed is $2500 regardless of UPB.
If it is FNMA, max allowed is 6% of UPB (was 8% until FNMA guidelines changed last fall)
If it is Freddie Mac, max is 10% of UPB or $3,000, whichever is lower
With HAFA, max is 6% or $6,000, whichever is lower."
Your comment is leading me to where I need to be, I just need help getting there :)
 
 
Where can I find official documentation regarding the FNMAE max 6% issue? The second in my transaction will consider 6% IF they have that information. I was told this by the 1st, but they won't put it in writing. I have searched high and low thorugh FNMAE information to find this statement, but I can't find anything that isn't related to HAFA. Client was denied HAFA, so this is a standard "in-house" short sale.
 
 
 

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