I was just informed that servicing on a short sale I have been working on was transfered from Chase to Ocwen. This loan was HAFA qualified and we had a marketing period good through July and sheriff sale date would be postponed at a minimum of until after that date expires. I had an offer on the property which also had a 10,000 Chase incentive and 3000 HAFA incentive. Of the 10000 we were using most to pay off liens etc.

With all that being said I just contacted Ocwen and I was informed that there is a sale date set for 5/1 and unless they approve the short sale betwen now and that date there is nothig they can do and that the HAFA agreement the borrower had with Chase is void as well as any incentives. I am really not so sure as to how to proceed and borrower has not made any provisions to move at this point because he thought we were good through at least July and as per his HAFA agreement that he would stay in the property. Help!!!!