Wow, a long road this contract has taken. We first went under contract December 5,2009 and now here we are almost 5 months later and we are finally closing. A few things I learned from this transaction:
1. Yes, technically is was not a short sale but they still take just as long! Don't beleive the timeline on the website!
2. HAP does not want to talk with real estate agents. It is good to have a very pro-active seller.
3. There are two different programs, the purchase and resale method or the give a check at closing method. The purchase and resale method seems to take longer that the check at closing type.
4. HAP , being the United States Government, will not pay Doc stamps. It is better to just put it in the contract that the buyer is paying those costs and the seller is giving the buyer "x" amount in closing cost assistance.
Any other thoughts or words of wisdom on the HAP program out there?