HAFA specialist agent and HAFA forms for Niceville, Crestview, Destin, Fort Walton What is the paperwork required for HAFA for Bank of America, Chase, Citi. transfer paperwork, and coordinate between email to hamp_servicingtransfer @ HAFA. Servicing. Transfers. Reporting a. HAFA Short Sales: U.S. Treasury, Fannie Mae, and Freddie Mac Programs. 4. MODULE 1. . servicer is the entity that processes all paperwork and approves or.
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Some people familiar with HAFA have observed communication breakdowns, slow responses, and a lack of adherence to guidelines.
We are here to help you successfully navigate this situation. In this option the lender allows you to give your title back to them which transfers ownership back to them. For homeowners, benefi ts include: The first option is a deed-in-lieu of foreclosure. We will address your issues and answer all of your questions. Prospective buyers will know where they stand in a possible deal. In this program you are able to get free advice from HUD-approved licensed real estate professionals and housing counselors.
He anticipates it being six months before lenders get up to speed on the program. We understand that real estate law can be confusing. It changes the whole game. Your mortgage company will work with you to come to an acceptable sale amount for your HAFA short sale. Churchill ticks off an array of benefi ts to real estate practitioners, including: In either option the HAFA program provides home owners options that help you through the transition.
Second lien holders also can gum up the process. As with any complex program, education is key. The remaining amount is guaranteed to be waived.
HAFA Short Sale Attorney Chicago Illinois – Ranj Mohip
For example, the listing period must be a minimum of days and can be extended up to a maximum of one year. We aim to build lasting relationships with our clients and to exceed their expectations.
The second option is a short sale. You are not responsible for the amount that falls short in the payment from the short sale.
California Real Estate – September 2010
Some observers expect HAFA to gain momentum over the next six months. Real Estate Attorney Ranj Mohip.
In a short sale the lender allows you to sell your house for less than the amount that you still owe them. Use this website as a guide to find the services that you think are right for you.
Frontline offers an array of HAFA education and resources. Such skepticism is well grounded, according to Robert Malakouti, who successfully completed one HAFA short sale and has two in progress. For one, she questions whether lenders, who right now can sit on decisions for months, will retool in a way that will enable them to make speedier decisions and actually streamline the experience. Adhering to timelines was another diffi culty. The HAFA program is different from traditional short sales because it completely releases you from your mortgage debt.
You have two options in the HAFA program. In the HAFA program you will have much less impact on your credit score than a traditional short sale would have.
Follow up aggressively and be sure lenders haaf treating and continue to treat your sale as a HAFA transaction, rather than a regular short sale. Consumers, for one, likely will gain greater awareness of it.
After all, there are literally hundreds of pages of HAFA rules and papwrwork to digest. Count on our team to listen to your goals and concerns.
Though guidelines say that borrowers will be notifi ed in a timely manner whether a sale hasBeen approved, Malakouti said it took more than 20 days for such a response.
Published by California Real Paperworl. Keep an eye out for incomplete applications and paperwork, particularly information concerning relocation money due to homeowners. You will feel secure and confident in our abilities.
This page can be found at http: Be prepared to provide guidance to the lender about what HAFA is, how it works, and the timelines involved. After submission of an executed purchase contract, servicers must approve or disapprove a sale within 10 business days.
And homeowners may walk away from properties with fewer woundsAnd without having their dignity shredded.