HAFA with Litton Loan
Just curious if anyone has had a HAFA approval with Litton Loan? I have a client that was told they did not qualify for HAFA because they were not late on their mortgage. That does not appear to be in the guidelines I read. Any help is appreciated!
Replies to This Discussion
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Permalink Reply by Jim Stewart on
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i'd say try again. i don't have the guidelines here with me but i'm pretty sure they say you have to be late or are about to become late. is your seller on the verge of going late? is it a true hardship or can they actually afford the home? i think if it's the latter, you might have an issue but i'm not 100% sure. either way, if Litton approves a short sale they usually forgive the balance, at least that's what my negotiator told me. the one i just closed wasn't HAFA but had deficiency forgiven. your seller just wouldn't get the $3000 moving expense
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