HAFA Check for $3,000

This is my first short sale with HAFA, so no doubt this is a 'duh' question, but I would appreciate the clarification. The short sale is approved, and the approval letter says that they want a copy of the HAFA check. Where is the $3,000 check coming from? Who is getting it and when?

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Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on December 19, 2011 at 9:30am

The HAFA Incentive check comes from the Settlement Agent (i.e, Attorney, Title Company).

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on December 19, 2011 at 9:32am

It should be on the seller's side of the HUD as a "Seller Incentive - HAFA"

Permalink Reply by Kylee Roe on December 19, 2011 at 9:33am

Well, maybe this is a "duh" situation for the short sale lender? Typically, the 3K is dispersed at COE by the title/escore company/agent, via check, so no check prior to COE. Unless you can get title to cut it, sign it and hold it?

Permalink Reply by Kevin - Greenville, SC on December 19, 2011 at 9:21pm

I assume they are just trying to verify that the payment for the incentive had been made to the Seller from the Settlement Agent.

Permalink Reply by Kathleen Sheridan on December 20, 2011 at 3:33am

Thanks Kevin, Thom, and Kelee for your responses.

It seemed odd to me that Chase wanted a copy the check for the HAFA disbursement, but not for the Chase incentive. On the other hand, maybe they need evidence that they are providing the HAFA incentive. 

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