Do not promise your short sale homeowners a moving incentive until we talk to them. Here’s why!
In case you missed it last month, in March this year, the Non-GSE HAFA short sale program was tweaked and updated. Below are the more significant changes: 2nd lien holders will see a payout of $8,500 maximum $3000 moving expense is only for those homeowners who OCCUPY the home Program extended until 12-31-2012 Homeowner may […]
Ugg…Another HAFA nightmare I encountered today. I’ve heard NOTHING , but negative news on HAFA. Every Realtor I’ve spoken with who is dealing with a HAFA short sale are not impressed. I’m sure you all read at this point that only 342 short sales and deed-in-lieu’s been completed have been approved and sold since HAFA’s inception last April-September.
It was an absolute pleasure working with Rapid Property Relief. As a certified distressed property expert I rarely find other professionals that know how to properly handle and negotiate short sales. Thank you for a smooth and seamless transaction. I appreciate your hard work and I look forward to working with you again in the future!
Kristen Blanchet, CDPE
SECOND lenders do not have to participate in the HAFA program so even though it’s Chase or Wells or whoever the second lender is and they independently participate in the HAFA program as a second lender on the property they do not have to comply with the HAFA program. The agent’s going into these short sales didn’t realize that. Not only were the agent’s furious about the homeowners, the lenders in both cases CUT the commission to get an approval. Imagine that? A short sale lender cutting an agent’s commission? Well THERE’S something you don’t see every day right? WRONG!!