I have a potential seller that will participate in a short sale if they are able to get the relocation bonus. HAFA was $3500 and that ends on December 31st. It is with Chase and in AZ which is a non-recourse state. I know there are no guarentees but I don't want to waste my time or theirs if there isn't a chance to get this through with the bonus. It should be an easy approval with the hardship being a job transfer out of state.
Any ideas or suggestions on how to pursue this? I tried to get a straight answer from Chase but couldn't get one.
**********************************
like buttons
Replies
Do you know if the investor with Chase does HAFA? If it's not a portfolio loan, you don't know.
HAFA for Fannie and Freddie does sunset on 12-31-12, but the non-GSE version continues until 12-31-13.
Am I correct that there is still relocation funds but the average is now $3000?
The HAFA relocation Incentive remains at $3000.
Do you recommend I get the sellers to be pre-approved HAFA before I list? If they don't get the $3000 relocation, there are not interested in participating in a short sale. So, I don't want to waste their time or mine.
Not sure who the investor is. I am working on getting an authorization from the owners to get some more information from Chase. Will any authorization form work or does Chase have their own.
Thank you.