HAFA Help
BofA is the 1st lender, Cenlar is the 2nd, Greentree is the 3rd. I have an approval from the 1st and the 3rd. Bofa is giving $8500 and Greentree is willing to accept $2500, I've proposed Cenlar to receive $6000. They will not accept anything less than $18,700. Here's what they are asking
$6,000 from first
$3000 from seller
$6600 from buyer
$2200 from agent commissions
$900 from third
Since this is a HAFA short sale, aren't they obligated to take whats within the parameters? who can I speak with to get help? Any information would be appreciated.
Replies to This Discussion
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Permalink Reply by Kevin - Greenville, SC on
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Even if Cenlar participates in HAFA (they do) they can request whatever amount they want for their 2nd.
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You can't contribute the Seller Incentive toward any subordinate liens with HAFA. I'm fairly certain the Agent or the Buyer can't as well.
You have a non-HAFA SS here currently.
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Permalink Reply by Short Sale Superstars LLC on
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Since this is going through HAFA the 1st will not allow a release of more than 8,500 to additional liens. If this was not going through HAFA depending on the investor contributions may be allowed to show on the HUD. You should do research on who the investor is with the 1st and why the 2nd is not willing to participate in HAFA. What is the unpaid balance on the 2nd? Have you spoken to any upper management at Cenlar?
Best of luck310-564-6389
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