I am a seller who just went through a lengthy short sale with BOA.  My realtor had completed all sales paperwork ensuring that I would receive the $3,000 HAFA funds when we listed the home, but at the closing table the funds were mysteriously missing.  The title company had no explanation at the time, and has continuously changed stories from "they didn't have time to qualify me", to "It was the bank's responsibility to qualify me, and they did not."  The bank had stalled for months after approving the sale, so the house was actually set to go to auction only 1 week after the date of closing, so I was forced to sign the papers.

It is very frustrating to have been assured of the HAFA funds, and then be denied these funds without any notice.  My realtor is doing some legwork, and reports that what he is hearing the more likely reasoning is that I was actually not eligible for HAFA funds because my home was in active foreclosure.  Does anyone here know if that is a legit reason, or do I need to pursue this further with the title company?

Thanks for your time, and any help!

Views: 978

Reply to This

Replies to This Discussion

If the agent asured you that you'd get the money, what's the question?

Didn't your agent review the HUD-1?

Did the title compay assure you you'd get the money?

Bill

Good luck.

I know this won't give you any answer on your question but at least you were able to close it as a short sale.  I have just spent considerable time trying to get a HAFA shortsale to work and after getting the letter that the seller qualifys and doing all the required jumps asked of me to be given a denial because they just found out that the investor is changing servicing companies the end of October and there wouldn't be time to close the short sale.  Appraisal was in all paperwork was in. but not enough time.  So, now we have to wait and see who the new servicing company will be.  I wonder if this is why we are in the trouble we are in?

I just had a HAFA approved short sale whereas the Seller did NOT get the $3000 incentive because I was told that it is a relocation assistance and the Sellers had already vacated the property - hence no need to give them a relocation assistance when they had already relocated.  Could this possibly be the case?

RSS

Members

© 2024   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************