Been working with BOA to get a HAFA file approved since 10/2011, 2nd offer 3/2012.  There were many delays with the previous file due to no fault of the sellers. With the assistance of the Twitter team we are now able achieve quicker results. The $3k HAFA incentive was contributing to a delinquent water bill (bank refuses to pay) & to offset sellers cost to move and disgaurd items from the home. Previous delays from UTLS/ATS, I'm told are from BOA, slow response or inability to reach the HAFA dpt??? Today's counter states Seller is no longer eligible for HAFA incentive. Any suggestions or best practices, suggestions??

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Jeanine  - You can twitter again if you don't get a satisfactory explanation. If they cannot do HAFA, press on, do a traditional short sale.  You may have to see if the seller can come up with funds to pay a re-hook-up fee for water (I am guessing it's been disconnected due to past due bills) for the buyer, or if the buyer will cover it, and also accept the property with clean-up issues. Otherwise, put it back on the market. Unfortunately, sometimes you have to sell a property three times to get it done!

xx

HAFA is only for borrower/homeowner/seller occupied properties.

If the water has been disconnected turned off then obviously no one is living there right?

My experience with BOA-HAFA transactions is that they take 2-3 times longer to close and usually 2-3 different buyer contracts before BOA realizes that their back office LIST ASSIST using default balance "as the basis" for value and counter offer terms and NOT current market value finally makes it clear to them that they were wrong all along.

Just my opinion.

Just for clarity, as of June 1st the property no longer needs to be occupied.

Byant, when we begin the process the seller moved out of the primary home for several reasons.  The greatest being the fear of foreclosure and the families welfare.  This concern is expressed in the hardship letter and after several failed attempts to modify the loan after loss of income.

What are the guideline to appeal this denial?  And what is your professional suggestion to remedy this situation and settle the purchase?

I would just resubmit.

so, is the property abandon currently. if given the opportunity for them to keep their home will they? what is their current status now? are they renting?

SE Davis, For clarification the water is not offer, just an outstanding bill that must be paid so the clean title can be conveyed. 


I agree with you, BOA-HAFA transactions do take 2-3x longer, especially with the 3rd party company that BOA is using UTLS/ATS - who operate with no sense of urgency on time sensitive files, in my opinion.

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