Good morning!
We received an offer from the lender today that approves my seller for HAFA provided that she pay $2,200 outside of closing to the mortgage insurance company. The catch is that the $2,200 would have to be paid BEFORE the lender can issue the HAFA approval. Paying it at closing is not an option for IndyMac.
The seller is hesitant to pay the contribution prior to closing because of the risk that the deal could fall apart and I'm concerned that the lender might not issue a HAFA approval after the contribution is made, regardless of the correspondence we've received from them.
Has anyone else come across this? Ideas?
Alex Krumm
Re/Max Alliance Group
Broker Associate
GRI, Certified Distressed Property Expert
Winner, Five Star® Best In Customer Satisfaction: 2010, 2011, 2012
941-234-3597 Direct
941-954-5454 Office
941-444-2552 Fax
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Hi Alex. Place this in the general forum area and you will get more responses.
I would have the seller talk directly to IndyMac and then let them make a decision.
The seller's concerns are valid. BUT it is the seller's decision to make. Too much risk for you to advise in this matter.
They should speak to an attorney.
Thanks, Bryant - I'll move it there now!
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