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Permalink Reply by Rita Cox on January 1, 2012 at 2:39am

What type of mistakes did the bank make? 

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Permalink Reply by Ruth A Bruestle on January 1, 2012 at 5:50am

Hi Rita, well it appears that this was a very specific HAFA short sale program, no give and take from the Bank..it all had to be their way..except that they let this program lapse and now the whole deal has to be reapproved as well as qualify all over again with a NEW HAFA program.  They also failed to understand a normal extension for completion of test results to mean that we were lenthening the actual closing date.  No apologies, no response.  Now the buyer will have to be reapproved, be charged for the wire being sent back and very probably have a higher interst rate than gotten before.  Lest I say more?

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Permalink Reply by Rita Cox on January 1, 2012 at 6:38am

Thanks. I was not aware that BOA had a specific HAFA program that was different from the any other lender. So thank you for pointing that out. Also, we have to be clear about our contracts because they vary from state to state and I don't think that the negotiators really pay attention to the details.

Clearly, the buyer has been set back but I am not certain how you remedy the situation. 

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Permalink Reply by Kevin - Greenville, SC on January 1, 2012 at 6:33pm

This does not apply to GSE Loans - http://www.scribd.com/doc/69225316/HAFA-Policies-Bank-of-America

Kevin M. Lancaster - Willson - Realtor, SFR

SC License # 31391

Keller Williams Realty

Greenville, SC 29607

Cell: (864) 485-9283 (call or text)

[email protected]

www.shortsalesuperstars.com/profile/KevinMWillson

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