Chase offered my client HAFA incentive $3000 and now they found out the seller moved out and took back the $3000
My clients received a package from Chase HAFA giving them $3000 incentive. When we got the approval letter Chase said the seller moved out of the home and does not qualify. Now my client doesn't want to short sale because they were promised a incentive and later taken away from them just because they moved out to have easier showing for potential buyers. Have anyone ran into something like this before?
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Permalink Reply by Shawn Wilkinson on
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No, but we make sure our clients aren't in it for the incentive. We tell them it is a possibility but do not count on it. Even with the new Bank of America incentives we are not comfortable talking to clients about it until it is in writing or amount is approved on the final HUD.
The short sale business is all about managing expectations. When faced with foreclosure should you really be concerned about leaving the settlement table with cash?
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Good Afternoon - I just received a HAFA approval letter from Chase that very clearly states if the seller is not occupying the property at the time of closing they are not entitled to the $3000 relocation incentive - if they have a tenant in the home then the lease needs to be sent to the lender at the time of closing and the TENANT (s) would get the money not the seller - the seller, per their new guidelines must occupy the home at the time of the closing.
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