HAFA short sales can go perfectly even in there is still no standardization.

By
Real Estate Agent with Keller Williams Realty 0590712

Today we closed a perfect HAFA Short Sale and it went smoothly and closed on schedule. Friday we are on track to close another HAFA deal, and last week we closed one too. All sellers had the deficiency waived and received their $3000 relocation assistance at closing. So, HAFA can work! I do have a few we've been working on for over the 45 days timeline set by HAFA guidelines for short sale approval. They are absolutely HAFA eligible, but they seem to have gotten off track. Hopefully, I will soon have them back on track. The problem I have notice with HAFA is there is still not the sanitation from servicer to servicer that there should be. For example, when you call the HAFA Hotline at Treasury you get different answers to the same question. Without standardization short sales are and always will be a crap shoot, but if you keep rolling the die and are persistent they all work out and will EVENTUALLY come in. Right now I am reading the entire HAFA/HAMP manual...BORING, but I will know more than the SPECIALIST who answer the phones on the HAFA Hotline.  It's not only boring, but confusing.  More alphabet abbreviations than stars in the sky.  Want sleeping material...

Comments (1)

Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

Amen brother.

I am proud to say I am still batting 100% this year on HAFA short sale closes.  My longest took 7 weeks, but for most the average has been under 45 days from contract to closing.

I am currently working 2 more currently and expect them to meet their closing dates also.

This is a great program for the industry.

Kevin Tolbert

Jul 18, 2011 05:14 PM