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Permalink Reply by Angela Pitre Reddy on July 31, 2012 at 5:24am

Update: we were told seller had to go through HAMP first and then would be eligible to apply for HAFA. Seller was denied HAMP prior to listing the property with me. I informed the rep and was told then yes they could apply for HAFA. We submitted all of the required forms and contract, est hud ect. We get sent to a second phase negotiator and was told since they were denied for HAMP they could not apply for HAFA. This is a FNMA backed loan and when I spoke with FNMA they said this was not true. Today I get approval for the short sale without any HAFA incentive and no clear language about releasing the def. balance which is most important to my sellers and it cut total commission to under 5% to meet investors required net. I emailed negotiator and supervisor and left a vm for the supervisor that this was completely unacceptable and we would not be closing under the current approval terms. Any other suggestions???