Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on February 24, 2011 at 2:11am

Laura, It is my understanding that the servicer is still allowed to start a foreclosure action while the borrower is in the HAFA program, just not allowed to finalize it (i.,e., auction the property).

 

An eligible, qualified Borrower must be considered for HAFA before the mortgage is referred to foreclosure.  For properties already referred for foreclosure, see row 13

 

Foreclosure may continue during HAFA process, but foreclosure sale cannot be completed. See row 4

 

http://www.realtor.org/wps/wcm/connect/aff82b0043f0ce46b2a0fb34cafa...

Permalink Reply by Laura Rencher on February 24, 2011 at 2:18am

Larry, what about this: 

 

The Freddie Mac guidelines state foreclosure proceedings are not to be initiated while being considered for HAFA. According to Freddie Mac’s HAFA guideline #D65.7, “the Servicer must not refer a Mortgage to foreclosure or complete a foreclosure sale  … while determining the Borrower's eligibility and qualification for HAFA” 

In addition, my Hafa contract states BOA agrees to

 

"9.) FORECLOSURE SALE SUSPENSION We may initiate or continue the foreclosure process, however we will suspend the foreclosure sale date until the expiration of this agreement......."

 

We are 5 days before the auction....I have called multiple times...if the loss mit department is not informed I am in HAFA, why would they stop the auction?

 

Permalink Reply by Kevin - Greenville, SC on February 24, 2011 at 2:30am

Laura, e-mail me @ [email protected]

Permalink Reply by Lori Young on February 24, 2011 at 3:19am

Laura:  Email me and I will share a Freddie Mac and senior BOA contact with you.  You are correct, HAFA program allows for the borrower time and foreclosure is not in the best interest of Freddie Mac.  Had one last week same thing.  [email protected]

Permalink Reply by Patsy Clevenger on February 24, 2011 at 4:51am

You will have better luck calling Freddie than emailing them.  They are VERY helpful on the phone and have stopped many for me.

 

Good Luck

Permalink Reply by Laura Rencher on February 26, 2011 at 3:23am

Thanks to everyone who responded to this post. I decided to take a shotgun approach and sent out emails to everyone that I could. Later in the day on Thursday, due to Patsy's post, I called Freddie Mac. The rep was very nice and helpful. He looked at the file and said there was definitely an investigation already underway due to my early morning email. He said that Freddie mac was very interested in how their servicers were handling their mortgages. He took additional information about the foreclosure lawyer, etc.  At about 8:50 pm, Thursday night, I got a call from the executive office at BOA, due to my email to Brian Monihan. She said she had sent an email to have the auction postponed and that I had a negotiator assigned that would be contacting me.  On Friday morning, we were still on the auction list but by 1 pm, we were off!!!!

YEAH!  And we submitted a full price offer on the property on Friday afternoon.

I am hoping to have the opportunity to speak to Freddie Mac and BOA about the incredibly dysfunctional and disorganized process that we have been through in trying to get into HAFA and avoid foreclosure.

I am not an agent. I am actually homeowner...so I hope other homeowners reading my post will feel empowered by my experience.  My realtor has told many times times that a less determined homeowner would have never gotten through this process. She has even decided to hire a service to monitor foreclosure activity on her properties are short sales. BTW, I don't mean to imply that my realtor wasn't doing anything to help me in this process.....she was working just as hard as I was.....

Permalink Reply by Steven Jackson on March 21, 2011 at 7:32pm

Would someone share the best Freddie phone numbers/names and email addresses please?

Permalink Reply by Laura Rencher on March 22, 2011 at 12:27am

http://shortsalesuperstars.com/group/freddiemac

 

The numbers are here. and the emails are read and escalated if necessary.

Steven Jackson said:

Would someone share the best Freddie phone numbers/names and email addresses please?

Permalink Reply by Steven Jackson on March 22, 2011 at 1:47am

thanks!

Permalink Reply by Isaac Ramirez on March 24, 2011 at 2:20pm

I need HELP bank of america just sold my sellers property at the auction on 3/23/2011, the new owner posted a notice on the sellers door giving them 3 days to vacate the property ... WE ARE/were in the HAFA short sale program with bank of americas 3rd party AMS .... We are in CA and never once was a notice of trustee sale ever posted on sellers door or mailed to them I have been dealing with LRC and AMS for months now and have a signed ARASS form dated on 1/12/11... What do we do what are my options I have never encountered this before...every call I have every made to AMS no sale date was ever mentioned or brought up , my file was placed in equator on 3/22/2011 you would figure the agent from AMS who put me in the equator system would of mentioned something!!! please help.......... [email protected]