I have seller who purchased home in 2004. He is alone on loan, but was married then and wife in on deed and mortgage. They got divorced 4 years later. Wife still lives in the house and we listed it for sale ( of course short sale). I deal with Bank of America. When I was initiating short sale, there was questions as to how property was purchased ( meaning investment, primary). So I checked primary. Well....system marked it as HAFA possible. I called Bank of America and explained situation. Person was not able to tell me, but I think my seller does not qualify. My seller also does not want to waste time, because he thinks that it will not work and then after bank refuses HAFA, we have to start with regular short sale.  I mean he has not been living in the house for years. He purchased another property with his new wife.  What do you think ? Like I said- I think- no, but because of wife living there I am not 100% sure. 

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If your seller and you are unresponsive, they will flip it over to a traditional short sale anyways.  It seems to take about a week for them to get a processor in and then go through all the paperwork.  They will likely proceed as tradtional.  Have your seller sign something they don't want to do HAFA and then submit it and ask the processor to start assigning tasks for paperwork.

Brian~

A party can be in title (on the deed) which means they will show up on the mortgage (usually to sign off homestead rights) without being a party to the loan.

Anna~

Bank of America automatically throws every loan that is marked "owner occupied" into the HAFA basket regardless of whether they will ultimately qualify.  Your client does not have to wait until a non-response dumps him out of that basket, he can call and "opt out".

Have the delete call in and deny a HAFA request. It will transition to traditional anyway and proceed in house from there.

Thank you everyone. I was surprised but I actually got quick response from Bank of America. We are going forward with regular short sale.

This is what I was going to say also..standard short sale..worry about HAFA later.  

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