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Bofa is declining my short sale because they dont want the seller recieveing hafa from first lien holder Wells fargo

Posted by Daniel Sandoval on April 2, 2012 at 2:18pm in Short Sale Discussions

I was asking for an extension from the 2nd lien holder Bank of america and they asked me if the 1st lien holder wells fargo is doing hafa for customer. I replied yes, you knew about it, as you accepted our hud with the big hafa relocation fee in black and white. They told me they wanted to close the file, that they didnt know about the client recieving hafa. I informed the negotiater, that i had the client apply for hafa for bofa and i was assuming you approved the  hafa relocation  as your not givng anything to the homeowner for hafa and your ok with recieving $6000. The negotiater replied by saying we never knew it was hafa. I told him you accepted my hud and you sent the hud to the investor and he signed off on it...so in other words bank of america made another mistake as always...I emailed the negotiater to look at the hud one on the library..as that is what they accepted. so what i did i sent an email to all parties in the equator (superviser, etc) just to make sure i have a copy just in case the owner wants to sue them..so thats my story..to this day im still waiting on them to close it....I actually had the homeowner call them and they advice them they didnt qualify for hafa from bank of america...

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Replies

  • Tom Braunagel April 9, 2012 at 4:17am

    You never qualify for hafa from the second... Only from the first.  Bank's have to investigage hafa for all of their short sale clients and the government policy dictates whether or not someone gets hafa money...certainly NOT a second mortgage holder...

    • Daniel Sandoval > Tom Braunagel April 9, 2012 at 7:07am

      At the same time i applied hafa for both loans but the only one that got approve under hafa terms is the first. The 2nd got denied but continue with the short sale like nothing....Now because they assume they didnt know the first was giving hafa to the client they wanted to close the file...so my client decided to forfeit the money and continue closing it without getting a cent..just to make bofa happy.

  • Mary Ferris April 8, 2012 at 7:44am

    Same situation different results.  The first took over 60 days to let us know the seller  was going to be approved for Hafa and send me the HAFA paperwork. (Greentree)

    All paperwork was in at B of A  2nd  waiting for approval.  The minute I told them the seller qualified they shut down my equator and made me start all over in the HAFA Shortsale department. They then required the HAFA RMA and want  the ARASS from the first. Different paperwork.    Did they ask you to start over?    I know they have different departments

     

    • Daniel Sandoval > Mary Ferris April 9, 2012 at 7:05am

      with wells fargo it went smooth...with the 2nd being bofa, they applied and they never informed me that they got denied. I was assuming we were moving with hafa as its only a small amount there getting. The hafa relocation fee was in the hud one  and was approved with hafa but now the 2nd bofa wanted to close my  file because they didnt know the first was giving hafa...My client decided to forfeit the 3000 back to wells fargo and continue with the short sale..

  • Bryant Tutas April 8, 2012 at 12:14am

    xx

  • Victoria Chrysokos April 3, 2012 at 3:48pm

    I HAVE MY HOME IN A SHORT SALE WITH BANK OF AMERICA AND I WAS PURPOSELY DISQUALIFIED FROM THE HAFA PROGRAM DUE TO THE NEGOTIATOR "DROP THE BALL".  I HAVE A RECORDED MESSAGE FRO THE NEGOTIATOR BEING RUDE AND ABUSIVE TO ME IN HER MESSAGE.  WHO KNOWS OF AN ATTORNEY IN THE CHICAGOLAND AREA THAT WILL TAKE ON THE CASE ON A CONTINGENT FEE.  I WAS SERVED WITH MY FORECLOSURE PAPERS AND HAVE BEEN IN COURT 3X NOW AND KEEP ASKING THE ATTORNEY FOR B.O.A. TO SHOW ME MY REG Z DOCS.  THEY KEEP STALLING.  ANY ATTORNEY OUT THERE WHO WANTS TO MAKE A NAME FOR THEMSELF??????????????/

  • Kimberley Kelly April 3, 2012 at 2:23am

    Go with Bryants suggestion.  The Social Media team is the ONLY way to get help with B of A.  Even then it's a crap shoot, but at least you will feel like you are being heard..

    • Daniel Sandoval > Kimberley Kelly April 3, 2012 at 1:00pm

      actually i got a call from a bofa rep from social media..she is going to help me expidite my short sale..Thanks for the advice kimberly..crossing my fingers...

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