Tags:
I wish! I'm representing the buyer on a BofA short sale that got switched from a traditional SS over to the HAFA Short Sale. It was in the HAFA SS department for about 9 weeks before we heard that they got approval. Here's my question that I hope someone can answer...if the HAFA SS was approved, why is it going back into BofA's traditional short sale program? They are saying it's now 6-8 weeks before approval. Does this sound right or the norm? I had my hopes that once it was HAFA approved, we'd have the final approval in 10 days and move the escrow forward. HELP! Thanks!
Terri Adams-Scott said:I wish! I'm representing the buyer on a BofA short sale that got switched from a traditional SS over to the HAFA Short Sale. It was in the HAFA SS department for about 9 weeks before we heard that they got approval. Here's my question that I hope someone can answer...if the HAFA SS was approved, why is it going back into BofA's traditional short sale program? They are saying it's now 6-8 weeks before approval. Does this sound right or the norm? I had my hopes that once it was HAFA approved, we'd have the final approval in 10 days and move the escrow forward. HELP! Thanks!
Hummm...maybe a 2nd lien? Or some other encumbrance? Tax lien?
Could be that a subordinate lienholder will not accept the terms of HAFA, so it's going into "traditional".
This is one of my concerns about HAFA, it creates the possibility of a two-step process. Try HAFA first, then when that fails.....Hence, the timeline may get even longer.
Terri Adams-Scott said:Terri Adams-Scott said:I wish! I'm representing the buyer on a BofA short sale that got switched from a traditional SS over to the HAFA Short Sale. It was in the HAFA SS department for about 9 weeks before we heard that they got approval. Here's my question that I hope someone can answer...if the HAFA SS was approved, why is it going back into BofA's traditional short sale program? They are saying it's now 6-8 weeks before approval. Does this sound right or the norm? I had my hopes that once it was HAFA approved, we'd have the final approval in 10 days and move the escrow forward. HELP! Thanks!
Has anyone had any luck with the Fannie Mae HAFA program. I have not found one bank...tried calling LBPS, CitiMortgage and Merrill Lynch and they all say that they are not participating and do not know anything about it. I now have a call into Fannie Mae in Washington DC. This is just plain awful!!!
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.