Long sad story, my borrower was forced to vacate and rent her home due to financial and medical issues. She struggled to make her payments to Midland for many months and when she could no longer do so contacted Midland about a modification or short sale. They told her she had to stop making payments for at least 3 months. When she contacted them again they told her should never have stopped making payments. The modification they offered was not enough help to allow her to keep the home and by then she is too far in arrears to catch up and rescue her home and her finances are in even worse shape.
We now have an offer above Midlands appraisal and she was approved for the HAFA program but they are now saying she cannot qualify for the Relocation funds since she doesn't occupy. My opinion, this borrower is why these programs were developed. She is in desperate need of that $3000k having been forced to move in with relatives and friends for the past couple of years. She is mortified to have been put into this financial crisis and not able to meet her obligations. Is there any hope and if so where do we start?
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Can she move back in?
Why did she even move out? Unless she wants to move back in and establish occupancy ( time consuming) forget about the $3k and just close. Look at the big picture here. She's getting her morgage debt forgiven. Fighting over the $3k while risking an approved short sale seems foolish.
Yes, I see your point regarding risking the approved short sale. I was just looking for some input as to whether there was some exception to this ruling in order to serve the interests of my client. It appears there is none.
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