We have several of them in process, but I haven't heard of anyone completing a HAFA short sale yet. Please someone tell me they have completed one so I know it is possible! :)

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Well that's an excellent question!! Not me.
Wish I could. I have several in process..but not completed.
Maybe the Easter Bunny, Unicorns, and HAFA approvals are all in the same category! :)
I have 3 in the pipeline and the 1st one has been in since April 20th and they just had to send to underwriting again. It's comical and they have no timeframes to provide either. And we think our govt is going to handle the health care system!
I have a b of a hafa in process with 2 liens seems to working fine.
Mark, did you start the short sale under the HAFa program from the beginning or were you doing Equator and then switched. Im close to an approval on Equator and borrower has the option to switch. Based on you experience what would you recommend? The borrower got deported so he doesn't care about a deficiency.
From my recent experience...I wouldn't switch unless the client decides they want to. I have asked many colleagues and none of them have received a HAFA approval yet. Some of them started a couple months ago. :(

Paola Lopez De Armentia said:
Mark, did you start the short sale under the HAFa program from the beginning or were you doing Equator and then switched. Im close to an approval on Equator and borrower has the option to switch. Based on you experience what would you recommend? The borrower got deported so he doesn't care about a deficiency.
I was hoping that by this time next week I would have been reporting on a completed HAFA short sale but....the buyer walked. This is with Wells and they have had the file since April 26th. It has now been about 2 months and I was days away from the actual written approval from the investor....the final stage! It was great while it lasted. Sent the offer in WITH the request for HAFA right off the bat and in no time I received the necessary paperwork for the seller to fill out...they called me with a counter offer of $2K, got them the paperwork, waited a few weeks and then we were sent the (seller was sent) the ARASS which had the HAFA Settlement sheet and a close date. BUYER Filled it out with the assistance of the Title Rep. and we were just about to fax it back when the buyer walked. I would say that within a week of the docs being sent to the investor to check mark, we would have received the actual closing instructions. Start to finish it would have been about 3.5 months.

Aside from the buyer leaving me, it was wonderful while it lasted!!!
Gee, I guess I can join the back of this line. I have one in process, too. Woopie.
I have a contributing author relationship with an online magazine. I'd like to write an article on "Experience with HAFA". If anyone would like to share their experience on this, write me at: [email protected]. Phone discussion, participants review before submitting, attribution or not, as you prefer.
Could be a short article....
I would like to participate Michael...I am out of town til the 8th tho...I cancelled with the negotiator but I still do not know what the outcome of our HAFA program is. will they keep it open, do I start all over again, will they kick us out of it? not sure. I will keep everyone posted.

Elise

Michael Schneider said:
Gee, I guess I can join the back of this line. I have one in process, too. Woopie.
I have a contributing author relationship with an online magazine. I'd like to write an article on "Experience with HAFA". If anyone would like to share their experience on this, write me at: [email protected]. Phone discussion, participants review before submitting, attribution or not, as you prefer.
Could be a short article....
We have completed one
We completed one and are about to close a 2nd HAFA. It's possible but no they did not adhere to the time frame. We've tried with a few others but most 2nd's won't participate.

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