I am working on a short sale and the homeowner has filed Chapter 7 BK.  Can we still submit for HAFA?

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The property will need to be released form the BK. Usually not a big deal just takes some time. Let the BK attorney know you are doing a short sale. He has to file with the courts and a judge has to sign off on it. You will probably need a contract first so build in enough time.

You should be able to have the file reviewed for HAFA depending on if the mortgage servicer participates in HAFA. It is very possible that the mortgage servicer may require that BK is no longer active prior to them moving forward. The BK likely will either need to be discharged, dismissed, or a motion to sell may be able to be filed.

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