Hey guys! Help me! My client just got a call saying her Homeowner Foreclosure Alternative has been approved after punching in a message code and said they are sending the package to her in a few days. Is this a short sale approval package? I thought this comes in an email format and I have had excellent communication with the lender and Fannie Mae agent, yes I said Fannie Mae agent personally called and emailed me several times. I was told today that PMI has approved the short sale and the decision was now in the 2nd lien holders hand. So, guys what you do think? My client is beyond excited. Has anyone ever had this happen to them before. This is two Citi Bank loans and Fannie Mae investor owned. Thanks for your help! Kelly
kelly, what would you like to know about HAFA? There are some docs you will need if indeed you are moving for a HAFA ss.
Based on what you are saying, it looks like your seller is approved for the HAFA program, but you will still need to finish up the negotiatons(settle out the NET that your first and second loans are getting) and get the approval letters. Once you get those approval letters, you should be set on the relocation money and no deficiency, assuming they don't say it has to come out of HAFA for some odd reason that they may try and make up.
Would love to talk more and clear up some details.