Comment

Comment by Jeff Payne on August 4, 2010 at 3:27am

Will HAP cover a second mortgage also? Seller did an 80/20 when they bought the home and now just got orders. It looks like only the second will be short.

Comment by Cami Pinsak on June 3, 2010 at 5:03pm

I, too, am in a quandry about HAP. Sellers have been re-assigned. There is a first lien and a HELOC. Sellers only short on HELOC which, as I understand, isn't covered under HAP. It sounds as if the better option for them is HAFA, except....they aren't delinquent because ( wait for it...)...HAP eligibility requirements.

Comment by Jon Rozansky on June 3, 2010 at 7:24am

Cindy, how did you process your HAP so quickly? Can you please post? I have been working on a HAP client since September. Any good guidence would be wonderful. Thank you!!

Comment by Cindy Jones on April 7, 2010 at 2:01pm

Another HAP sale went to closing today. From contract date to settlement was 59 days. Have approval on two more that fall within similiar timeframes. YEA!

Comment by Tasha Griffin on March 18, 2010 at 11:19am

Hi Cindy, I'm in Norfolk area if I can be of any help let me know.

Comment by Cindy Jones on March 3, 2010 at 1:54pm

I had buyers panic recently on one of my HAP listings when they read the website and it said if a house sells in the first week it is probably underpriced. So not true in our area where inventory is 50% off of last years numbers. Multiple offers in 48 hours is normal! No problems with closing on houses that went under contract in less than 7 days if you can support the price.

Comment by Wendy Rulnick on March 3, 2010 at 1:51pm

Steve - I would recommend you absorb the HAP website, too!

Comment by Cindy Jones on March 3, 2010 at 11:30am

Steve,

HAP does not have to "approve" the offer in the same way as a SS. As long as the property is being sold at fair market value verified by the listing agents CMA and the automated valuation done by HAP then you are good to go. The listing agent should be able to guide you in regards to making sure that the offer and the closing costs associated with the offer do not exceed the limits for your area.

Good luck,
Cindy

Comment by Steve Randolph on March 3, 2010 at 11:21am

I have a client that is interested in buying a HAP property. I don't know much about the process. Is there much difference from a regular SS? Does the DoD review and approve the offer if it is accepted by the seller?

Cheers,
SR

Comment by Cindy Jones on March 3, 2010 at 4:09am

My last one which I would consider the "normal" one as it was after the program rules and funding were available closed in just over 60 days. I have three in process now and two of them have gone to the benefits department. Once the process is underway and a real estate specialist has been assigned they are good about providing updates as needed. Personally I don't bug them constantly but do a check in to see if they need anything else from me. Great team to work with in Savannah.

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