HAFA Relocation Incentive Increases to $10,000 On 2-1-2015

Hi folks. Good news for folks that qualify for a HAFA Short Sale. As of February 1, 2015 the relocation incentive available to the occupant/borrower is increasing from $3,000 to $10,000!!

 

That’s right we may be able to get you $10,000 to assist you with moving from your property once the HAFA Short Sale is completed. These funds are paid to the OCCUPANT of the property even if they are not the owner/borrower.

 

My advice is don’t move!! Stay in your property while we go through the HAFA Short Sale process. The lender will compensate you for doing so. They want you there to maintain the property.

 

You may be eligible for a HAFA Short Sale if you meet all of the following criteria:

 

  • You have a documented financial hardship.

  • You have not purchased a new house within the last 12 months.

  • Your first mortgage is less than $729,750.

  • You obtained your mortgage on or before January 1, 2009.

  • You must not have been convicted within the last 10 years of felony larceny, theft, fraud, forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.

 

*Eligibility criteria are for guidance only. Contact your Orlando Short Sale Specialist to see if you qualify for HAFA.

 

HAFA offers benefits that make the transition as favorable as possible:

 

  • You can get free advice from HUD-approved housing counselors and licensed real estate professionals.

  • Unlike conventional short sales, a HAFA short sale completely releases you from your mortgage debt after selling the property. This means you will no longer be responsible for the amount that falls "short" of the amount you still owe. The deficiency is guaranteed to be waived by the servicer.

  • In a HAFA short sale, your mortgage company works with you to determine an acceptable sale price.

  • HAFA has a less negative effect on your credit score than foreclosure or conventional short sales.

  • When you close, HAFA may provide $10,000 in relocation assistance.

So folks, if you are experiencing difficulties making your mortgage payment then give me a call. As your Orlando Short Sale Specialist I will be able to guide you through the entire process.

Together we can devise a plan to get you out from under your hardship with the least impact to you and yours.

 Please feel free to reach out to me if I can be of any assistance.

 

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Comment by Louise Dela Cruz on February 17, 2015 at 4:15pm

This is fantastic news!! 

I am working on one now with Chase.

They responded to the offer submitted via fax on Equator.

The processor included a statement regarding a "relocation fee".

I am submitting a HUD with the repo fee of $10,000.00

Thanks all.

Louise

Comment by Kimberley Kelly on January 31, 2015 at 6:18am

So wild!  I just got a call yesterday from OCWEN.  They hold the 1st on a HAFA short sale with Real Time as the 2nd.  Real Time is demanding more than buyers or agents could come up with..now OCWEN tells me they are increasing their max payout to 2nd from $8500 to $12,000 and also my seller relo fee from $3,000 to $10,000!!  First time I can remember that I was happy to talk to OCWEN!!

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