Replies to This Discussion

Permalink Reply by Cami Pinsak on March 4, 2011 at 1:20pm

If this is a regular HAFA short sale, the servicer can not sell the house at trust sale while the borrower is in HAFA review.  It is in the servicing guidelines.  Though you will have to tell them that.  They often don't know. Good Luck!

Permalink Reply by Shannon Renner on March 4, 2011 at 1:35pm

Thanks, Cami.  They have been speaking only with the owner as of now.  Who should I contact to remind them of this guideline?  Should I contact AMS or BofA?  I have the feeling AMS is not rushing anything.  So far things look good an dthere should be no reason why it will not be approved, but......

Cami Pinsak said:

If this is a regular HAFA short sale, the servicer can not sell the house at trust sale while the borrower is in HAFA review.  It is in the servicing guidelines.  Though you will have to tell them that.  They often don't know. Good Luck!

Permalink Reply by Cami Pinsak on March 4, 2011 at 1:37pm

Tell them both, but B of A is the one who will be stopping the sale.  The guidelines also specify certain time frames for response, as well.

Permalink Reply by Bobbie Files on March 4, 2011 at 1:41pm

Hi,

 

The escalation process for HAFA is easy and effective and works with all lenders.

Email:  [email protected]

Include:

Borrower's Name

Property Address

Loan Number

Authorization to Speak Form (you need to give them authorization to speak with the lender - meaning the home owner AND they need authorization to speak to you)

Give them a timeline and details of the problem.

 

It works!!! Best of luck!!!

 

Bobbie Files

Permalink Reply by Aneetra Isis Sherrell on March 4, 2011 at 2:29pm

I am actually in the same situation.  Today, I called Bank of America and informed them what was going on.  The representative gave me the negotiators contact information and said she would send an e-mail to his supervisor.  I e-mailed my negotiator and will follow up Monday.  I will let you know what happens.

Permalink Reply by Bobbie Files on March 4, 2011 at 2:34pm

Hi,

 

Just email the link I put above.  That goes right to a department that has been set up at the Treasury to monitor and enforce compliance of HAFA.  I also have a phone number for the home owner to call:  888-995-HOPE  ask for MHA help.  They will contact the servicer directly and get resolution.

It is quicker and less argumentative.

 

They typically respond to emails within 12 hours, but have had it take 24.

Permalink Reply by Bryant Tutas on March 4, 2011 at 2:56pm

Thanks Bobbie. I'll add this info to the HAFA group.

Bobbie Files said:

Hi,

 

The escalation process for HAFA is easy and effective and works with all lenders.

Email:  [email protected]

Include:

Borrower's Name

Property Address

Loan Number

Authorization to Speak Form (you need to give them authorization to speak with the lender - meaning the home owner AND they need authorization to speak to you)

Give them a timeline and details of the problem.

 

It works!!! Best of luck!!!

 

Bobbie Files

Permalink Reply by Laura Rencher on March 5, 2011 at 4:55am

I am a homeowner in HAFA. BOA has tried to foreclose on us 2x...DON'T count on them do anything they say they will do.  NO ONE there knows what HAFA is. AMS is just handles phone calls from homeowners. They don't handle the file...or make any decisions. They had no record I was in foreclosure and repeatedly assured me this wouldn't happen while I was being considered and in HAFA. Of course. later someone there told me they could do whatever they wanted regarding my house including foreclosure.

 

I also call the BOA loss mit. dept. MANY times. The reps there don't know what HAFA is. I got the last auction canceled two days before the sale(March1) after escalations to BoA exec office and Freddie mac.  DON'T COUNT ON BOA handling anything related to HAFA in any sort of competent manner. Their servicing of HAFA is beyond miserably inadequate.

 

Most recently, I got my HAFA payment check returned with a standard letter saying they wouldn't take anything less that certified funds in full because we were in foreclosure.  I called AMS who said to call BOA customer service who transferred me to the BOA ss dept. who transferred me back to AMS.  Of course, by then their system was down and no supervisor was in the office to talk to me. I left a message but no one returned my call. Major buck passing with no one taking responsibility to fix the problem.....and  since in their eyes, I have not paid, I am now in violation of my HAFA contract.

AMS is not any more competent than BOA.  We got a full price offer last week but due to the incompetent idiots there who kept assigning the wrong tasks through equator, it took my agent 4 days to actually get the offer uploaded into the system. So much for that 10 day turn around...I have no hope BOA will comply with that guideline either....

 

Glad to have the email above...I will add it to my list of emails that I send out with complaints about BOA. Maybe it will means less infuriating phone calls...but I doubt it. I was appointed an exec. level negotiator as of 10 DAYS AGO but she has yet to contact me or return my calls.....despite leaving numerous messages.

 

Permalink Reply by Susan Burhoe on March 6, 2011 at 1:48am

Depends on the state that she is in. Contact the Law office that is handling the foreclosure and get with customer service until she gets them to stall the foreclosure. Like everything, you have to be vigilant.

Permalink Reply by justin.hanke on March 8, 2011 at 10:03am

FYI, the HAFA guidelines say:

 

Suspension of foreclosure sales
The Servicer must continue with an existing foreclosure proceeding during the HAFA process. However, the Servicer must not refer a Mortgage to foreclosure or complete a foreclosure sale in the following situations:
• While determining the Borrower's eligibility and qualification for HAFA
• While awaiting the timely return of a fully executed SSA
• During the term of a fully executed SSA
• While awaiting approval from Freddie Mac to offer the Borrower a HAFA Deed-in-Lieu
• Pending transfer of title to the Mortgaged Premises based on an approved sales contract per the
RASS
• Pending transfer of title to the Mortgaged Premises via a HAFA Deed-in-Lieu by the date specified
in the DIL Agreement

 

Meaning, they CAN CONTINUE the foreclosure process while going through the HAFA short sale if they already started, but they can't actually foreclosure or send it to sheriff sale while working on the HAFA short sale. Based on that, they should remove your sale date out.

Permalink Reply by Patsy Clevenger on March 16, 2011 at 9:31am

Shannon this is what I found for Fannie Mae:

 

General Terms and Conditions

Suspension of Foreclosure Sales. At the servicer’s discretion, the servicer may initiate foreclosure or continue with an existing foreclosure proceeding during the HAFA process, but may not complete a foreclosure sale:

                         

While determining the borrower’s eligibility and qualification for HAFA.

 

While awaiting the timely return of a fully executed SSA.

 

Supplemental Directive 09-09 Revised Page 10

 

During the term of a fully executed SSA.

 

Pending transfer of property ownership based on an approved sales contract per the RASS or Alternative RASS.

 

Pending transfer of property ownership via a DIL by the date specified in the SSA or DIL Agreement.

 

 

 

Hope that helps

Permalink Reply by Cami Pinsak on March 16, 2011 at 9:43am

I echo Patsy...

They may not foreclose. Just threaten to report them to the Office of the Comptroller and Currency....

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