A double Nationstar short sale success through HAFA
Posted by Minna Reid on Tuesday, January 31st, 2012 at 8:45am.While none of my other HAFA experiences have ever been good ones, this Nationstar short sale was the exception to the rule and hopefully a sign of things to come.
My clients came to me when their two mortgages with Nationstar had become debilitating and their commute to work had become unmanageable.
After 6 weeks on market a buyer was secured and a full short sale package headed to Nationstar.
A few weeks later I heard from our negotiator.
While my client was not “delinquent enough” to be approved for an in-house short sale, they could be approved via HAFA. Despite 9-15 month timeframes on my previous HAFA approvals, seeing no other option I advised my client to go ahead and attempt the HAFA short sale.
To my surprise – Less than a week later our short sale approval letter arrived. A fairly smooth closing on this Coventry, CT home followed 6 weeks later.
OWED: 1st and 2nd mortgages with Nationstar totaling: $270,000
SETTLED IN FULL VIA HAFA: $175,000
TOTAL TIME FRAME LIST TO CLOSE: 3.5 months
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[...]A short sale package headed to the lender. Nationstar is hit or miss. They have been known to be on the ball and approve in a few short weeks, and I have also seen the opposite with this unpredictable lender. It took almost 3 months to get[...]
Posted on Thursday, May 17th, 2012 at 3:36pm.