All Discussions Tagged 'HAFA' - Short Sale Superstars2024-03-29T04:55:44Zhttps://shortsalesuperstars.com/forum/topic/listForTag?tag=HAFA&feed=yes&xn_auth=noHafa is history. Can homeowners receive "relocation funds" from anywhere else?tag:shortsalesuperstars.com,2017-04-25:3468065:Topic:3858472017-04-25T07:22:32.289Zsean doughertyhttps://shortsalesuperstars.com/profile/seandougherty
<p>I am a preforeclosure investor. In the past one of my main incentives to convince owners to sell to me through short sale was that government funded programs were in place that would give the qualified homeowner upto $10,000 to close before auction date.</p>
<p>I have always used HAFA in the past. Now that HAFA has expired are there any other programs that offer "moving incentive"? Is there a general policy with banks that they may offer some funds to encourage a short sale? Please let me…</p>
<p>I am a preforeclosure investor. In the past one of my main incentives to convince owners to sell to me through short sale was that government funded programs were in place that would give the qualified homeowner upto $10,000 to close before auction date.</p>
<p>I have always used HAFA in the past. Now that HAFA has expired are there any other programs that offer "moving incentive"? Is there a general policy with banks that they may offer some funds to encourage a short sale? Please let me know. Thanks </p>
<p></p> Ocwen 1st Cenlar 2nd HAFA URGENT HELP!tag:shortsalesuperstars.com,2016-01-20:3468065:Topic:3702162016-01-20T15:27:00.575ZJason Childshttps://shortsalesuperstars.com/profile/JasonChilds
<p>We are at the table to close and Cenlar had just said they will not approve the closing because it was not reviewed as HAFA. We received the approval from Cenlar for 6k and submitted it to Ocwen. Now that they received the approval from Ocwen along with the CD to close they are saying they want $12k. The first approval states max $6k to Cenlar and the second lien holder is entitled to the lesser 8% of UPB or $12k. 8% would be $2720. I need help or this is going to blow up.</p>
<p>We are at the table to close and Cenlar had just said they will not approve the closing because it was not reviewed as HAFA. We received the approval from Cenlar for 6k and submitted it to Ocwen. Now that they received the approval from Ocwen along with the CD to close they are saying they want $12k. The first approval states max $6k to Cenlar and the second lien holder is entitled to the lesser 8% of UPB or $12k. 8% would be $2720. I need help or this is going to blow up.</p> Participating HAFA Bankstag:shortsalesuperstars.com,2014-09-08:3468065:Topic:3550152014-09-08T18:34:22.861ZJoanne Finochiohttps://shortsalesuperstars.com/profile/JoanneFinochio
<p>Does anyone know where I can get a list of banks, investors that pariciapte in HAFA?</p>
<p>Does anyone know where I can get a list of banks, investors that pariciapte in HAFA?</p> HAFA Denialtag:shortsalesuperstars.com,2014-01-17:3468065:Topic:3423832014-01-17T03:00:50.092ZChristopher McCraehttps://shortsalesuperstars.com/profile/ChristopherMcCrae
<p>Had a HAFA qualified seller sitting in Equator for a month through Nationstar. After repeated phone calls ,files being moved around and my 3rd asset manager. I just got this back from Nationstar ,who now wants to put my clients on Auction.com. Has anyone ever run into this ? see attached denial letter from Nationstar. <a href="http://storage.ning.com/topology/rest/1.0/file/get/3037729950?profile=original" target="_self">Nationstar Hafa letter.jpg</a></p>
<p>Had a HAFA qualified seller sitting in Equator for a month through Nationstar. After repeated phone calls ,files being moved around and my 3rd asset manager. I just got this back from Nationstar ,who now wants to put my clients on Auction.com. Has anyone ever run into this ? see attached denial letter from Nationstar. <a href="http://storage.ning.com/topology/rest/1.0/file/get/3037729950?profile=original" target="_self">Nationstar Hafa letter.jpg</a></p> How does the HAFA process affect buyers?tag:shortsalesuperstars.com,2013-04-20:3468065:Topic:3097872013-04-20T14:54:35.531ZWilliam James Walton, Sr.https://shortsalesuperstars.com/profile/WilliamJamesWaltonSr
<p>I am currently representing a seller who has applied and been approved for a HAFA short sale (the servicer is Chase). An agent who has a buyer that wants to put in an offer was told that the buyer would have to complete inspections and get mortgage commitment before the short sale approval would be issued. Is this true?</p>
<p>I am currently representing a seller who has applied and been approved for a HAFA short sale (the servicer is Chase). An agent who has a buyer that wants to put in an offer was told that the buyer would have to complete inspections and get mortgage commitment before the short sale approval would be issued. Is this true?</p> What is the max amount that Fannie Mae will pay to subordinate lien holders?tag:shortsalesuperstars.com,2013-04-10:3468065:Topic:3084422013-04-10T17:38:05.826ZTeam Thayerhttps://shortsalesuperstars.com/profile/TeamThayer
<p>I have a short sale going with Chase as the 1st lien holder, SLS as the 2nd lien holder and an attorney who is representing Discover card as the 3rd lien holder. I am working on this as a HAFA short sale and am wondering what the total is that I can get to pay both the 2nd and 3rd lien holders. I was under the impression that I would be splitting a total of $6000 between the 2nd & 3rd lien holder. SLS is telling me that the total is $8500. I was under the impression that the amount…</p>
<p>I have a short sale going with Chase as the 1st lien holder, SLS as the 2nd lien holder and an attorney who is representing Discover card as the 3rd lien holder. I am working on this as a HAFA short sale and am wondering what the total is that I can get to pay both the 2nd and 3rd lien holders. I was under the impression that I would be splitting a total of $6000 between the 2nd & 3rd lien holder. SLS is telling me that the total is $8500. I was under the impression that the amount had changed in standard HAFA short sales but not with Fannie Mae. Their total is still $6000. Am I right or wrong? Any info will be helpful</p> Can a Bank set their own HAFA Program Guidelines?!!!tag:shortsalesuperstars.com,2013-02-01:3468065:Topic:2935652013-02-01T02:21:18.753ZJorge Mierhttps://shortsalesuperstars.com/profile/JorgeMier
<p>Hello,</p>
<p>We have been negotiating a Short Sale that had originally both mortgages with Homeward Residential. Now, the 2nd was transferred to <span>Real Time Resolutions, Inc.</span></p>
<p>Homeward approved the Short Sale and only pays 10% of the principal balance to the Subordinate Mortgage. The person in charge of the file at <span>Real Time Resolutions, Inc. came back, and refused, after the previous negotiator accepted it the 10%, to issue Short Sale Approval until the 1st give them…</span></p>
<p>Hello,</p>
<p>We have been negotiating a Short Sale that had originally both mortgages with Homeward Residential. Now, the 2nd was transferred to <span>Real Time Resolutions, Inc.</span></p>
<p>Homeward approved the Short Sale and only pays 10% of the principal balance to the Subordinate Mortgage. The person in charge of the file at <span>Real Time Resolutions, Inc. came back, and refused, after the previous negotiator accepted it the 10%, to issue Short Sale Approval until the 1st give them $ 8500.00 as this Short Sale is under HAFA program. </span></p>
<p>We came back to Homeward and requested the $ 8500.00 to the 2nd lien and the answer of the negotiator was that Homeward HAFA guidelines was to only pay 10% and they will not reissue their approval. </p>
<p>There is also another silly issue, the buyer is willing to come with the funds to cover the difference between between what has been approved by Homeward and what the 2nd lien holder is asking. Real Time Resolutions, Inc. refused to take it like that and the response was the money had to come from Homeward.</p>
<p>It's a battle of power that it's not making a lot of sense. </p>
<p>Any thoughts on how to deal with this situation. We have contacted HAFA today to get a clarification on the guidelines that to confirm that all of them apply to all banks and banks can't modify the program and its rules.</p>
<p>If someone out there has ever had a situation like this please share your 2 cents and the results.</p>
<p>Thanks for your time!!!</p> WAS HAFA EXTENDED?tag:shortsalesuperstars.com,2013-01-04:3468065:Topic:2874752013-01-04T18:52:24.271ZMegan Brookshttps://shortsalesuperstars.com/profile/MeganBrooks
<p>Hello!</p>
<p>My negotiator at BofA just told me that HAFA no longer exists. I thought it had been extended. Isn't this something the banks should know or are they trying to get away with things. Anyone here have any info/advice on this? Thank you!</p>
<p>Hello!</p>
<p>My negotiator at BofA just told me that HAFA no longer exists. I thought it had been extended. Isn't this something the banks should know or are they trying to get away with things. Anyone here have any info/advice on this? Thank you!</p> HAFA Clarificationtag:shortsalesuperstars.com,2012-12-07:3468065:Topic:2830912012-12-07T19:29:31.587ZJeffrey Burnhamhttps://shortsalesuperstars.com/profile/JeffreyBurnham
<p>I'm hoping for some quick clarification. I know the HAFA program effectively ends on 12-31-12. My question is: does the SS need to CLOSE by then... or can an accepted offer continue to work through until the Buyer's loan closes?</p>
<p>Any guidance is welcome. Thanks Superstars!</p>
<p>I'm hoping for some quick clarification. I know the HAFA program effectively ends on 12-31-12. My question is: does the SS need to CLOSE by then... or can an accepted offer continue to work through until the Buyer's loan closes?</p>
<p>Any guidance is welcome. Thanks Superstars!</p> NEED HELP FNMA HAFA Short Saletag:shortsalesuperstars.com,2012-10-23:3468065:Topic:2743842012-10-23T15:05:45.527ZRussell Faucettehttps://shortsalesuperstars.com/profile/RussellFaucette
<p>Does anyone have any suggestions on how I can approach this or contacts higher up at Fannie Mae? I recieved the following e-mail on a FNMA HAFA short sale from my negotiator:…</p>
<p></p>
<p>Does anyone have any suggestions on how I can approach this or contacts higher up at Fannie Mae? I recieved the following e-mail on a FNMA HAFA short sale from my negotiator:</p>
<p><span style="font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">I just completed the review of the offer. The<br/>listing price put forth in the HAFA agreement was $163,700.00, which matches<br/>your offer and also matches the value that came through on the BPO. However,<br/>Fannie Mae is requiring net proceeds to be $156,740.54 which is 96% of the<br/>value. This obviously does not leave room for commission, the borrower<br/>incentive, and all of the other closing costs. I'm not sure why Fannie Mae has<br/>set this amount so high in relation to the value. I calculated that the offer<br/>will need to be approximately $186,850.00 to meet that net proceeds<br/>requirement. Please present a counter offer to the buyer that will net us the<br/>stated amount. If they are unwilling to increase, please list the property for<br/>an amount that will net the proceeds that Fannie Mae is requiring. I'm sorry<br/>for the inconvenience, please call or email with any questions.</span></p>
<p><span style="font-family: 'Calibri','sans-serif'; font-size: 11pt; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">How is it that they can guarantee to pay 6% in commission and the $3,000 relocation incentive and request to net 96% of market value. We will not be able to get a higher offer. Any advise or suggestions would be appreciated. Thank You.</span></p>