I am short selling my own home.  It is listed with another agent.  Seterus countered a $150k offer saying they wanted to net $169k ...buyer countered at $155k (max house is worth) and Seterus accepted...NOW Seterus is telling me that because the approved offer is $10k less than what THEY say it is worth, they say I don't qualify for the $3k relocation money that every seller of mine has gotten since the program started...I sent an email to the negotiator stating that I needed the money to apply to first and last on a rental or else I would not be able to move/close and perhaps have to file BK.  He replied that he resent it to FNMA and it was denied the second time...anybody have any ammo for going to bat the third time....the $3k has been on the HUD from the beginning of the negotiations

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Barbara;

Seterus excuse for your not receiving the relocation incentive is not accurate you are being denied that money for another reason.

If you are a real estate agent even if you are not representing yourself on your own listing transaction you "may-not" be entitled to receive any cash at the closing for any reason.

Some servicers and investors won't pay a real estate agent commissions, closing costs or relocation incentives on their personal buying or selling short sale transactions.

Otherwise try this link for the FHFA http://www.fhfa.gov/Default.aspx?Page=369

Or contact this new US Senators office http://www.warren.senate.gov/ This consumer advocate politician is hunting for cases that she can use to embarrass and humiliate national financial companies.

If you were my client I would have told you from DAY-ONE do not expect to be paid a dime at closing even using the HAFA program which does not always grant the relocation incentive in their approvals for a variety of reasons.

I would take the deal Barbara before Seterus changes their mind, close it and avoid the foreclosure on your record.

 

The relocation should be allowed if you still live in the property up until the Approval Letter date.  I would contact Freddie Mac for a direct escalation.  If your entitled they will let you know (usually 1-3 weeks).

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