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BOA: HAFA Short Sale Declined due to Auction Date

Posted by Bonnie Samson on January 31, 2011 at 6:20pm in Short Sale Discussions

Hello everyones,

I have a HAFA short sale file with Bofa.  When I called short sale customer care, Rep told me that  seller  HAFA Short sale is denied due to the Auction date.

 

He has offer on the property.  Awaiting for Evaluation.  The auction date is March 7.

He's never received the Hafa short sale package.

Can he re-enroll for Alternative Request for Approval of Short Sale?

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Replies

  • Bonnie Samson February 7, 2011 at 11:54am

    The file is currently in a traditional short sale.

    Thanks everyones for your response.

  • Laura Rencher February 1, 2011 at 6:21am
    I believe the federal guidelines say they can't put the house in foreclosure while being considered for HAFA. We have a BOA/Freddie mac loan. They tried to foreclose on us while they were reviewing our package and we got it stopped...talked to HUD and diligantly kept  calling BOA for two straight weeks bothering anyone I could escalate too.  Look up the guidelines then go back at them with that.  it worked for us.
  • Steve Early February 1, 2011 at 5:53am
    There is no guarantee the sellers will get the $3,000 even if you believe they qualify for HAFA. If there is an auction date and they were denied participation in HAFA, start a conventional short sale right away. They still may not postpone the auction but that is your best option at this time.
  • Smitty February 1, 2011 at 5:31am

    I was told last week that if an auction date is set, they cannot participate in a HAFA short sale as the time to respond to the Short Sale Application had elapsed. 

     

    I went forward with a traditional short sale and got the auction postponed.

  • Bonnie Samson January 31, 2011 at 6:37pm

    Hi Steve,

    Yes, Bank of America customer care.  I want my seller to get the $3000 relocation assistance.  He has met all the eligible criteria.  Now declined because his house has an Auction date. 

  • Steve Trang January 31, 2011 at 6:31pm
    I believe that HAFA is the  best way to postpone the foreclosure date. Bank of America is the one that told you HAFA was denied because of foreclosure date?
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