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HAFA with B of A?

Posted by obdulia chavez on April 13, 2011 at 3:47pm in Short Sale Discussions

Does anybody know how is the process? I already have the house for sale; the seller called B of A and got transferred to the HAFA department. The seller already e-mailed the forms they requested and she hasn't heard anything back from them.

 

Also, she was told that after they receive the forms completed and signed, they will send an appraiser to set up the price of the home. I wonder if HAFA program will change the sale price the home already has.

 

I will appreciate your input. 

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Replies

  • Rain Silverhawk April 15, 2011 at 2:46pm

    While every short sale is different and BofA, NTLS is going through some changes right now, I do have a "help for agents"  in a BofA shortsale page.

    http://www.lakeandhomes.com/shortsale.shtml

    This should at least get you started.

    Yes HAFA may very well change the price of your listing. I had a property that was only worth about 80k in our market, we had it listed at 145k because that was 60% of the loan amount.  The bank got a BPO early on that put it at 120k and we wound up with 9 offers ranging between 80k and 86k over a 2 year period and the bank would not go below that 120k. It went to foreclosure and is on the market through HUD for 122k

  • Rick Trono April 13, 2011 at 8:18pm
    HAFA may very well change the price and the price could be higher then you have it now. No kidding
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