I had the good fortune of being interviewed by the Arizona Republic two weeks ago. It is definitely a sense of “I’ve made it” feeling. J Craig Anderson at the paper had received multiple conflicting accounts of how the HAFA program is beneficial or helpful for people in distressed homes.
Some people sing praises of how wonderful HAFA is. I’ve heard that it has sped the process up significantly. You get a pre-approved short sale price in only 10 days!
In my experience, HAFA has hurt a few of my short sales. After getting approval on a short sale from the bank that buyer, seller, and bank were all happy with, we were about to open escrow. It all came to a screeching halt when we heard the words, “Congratulations, you are approved for HAFA.” It’s been three weeks since, and now nobody knows what’s going on.
In another one of my listings, we got another HAFA approved short sale. Guess what? It’s been three months, and the bank is still reviewing the documents. It’s not that I’m angry for the government trying to fix what problems we have. It’s just that if they would stop helping, we’d be fine already. Anyhow, that’s just one little guy’s feeling. So much for 10 days, huh?
To read more about the HAFA article by Anderson, you can go to http://www.azcentral.com/business/realestate/articles/2010/07/15/20100715biz-shortsalebonus0715.html
Cheers!
I wish that you have got your work done soon. I know few people who also have these kinds of problems in recent days and after reading your post I afraid that things are really not going the right way as far as HAFA is concern.
More paper work – longer time, we all know that. When the federal government is involved, longer time and things will not work well.
I`d like to say that you always offer accurate information and I have been an long term reader of your site for quite some time. Just wanted to say thank you really
for all the good work you do.
News is very good media to spread information or advertising.
It’s good to hear the writer get opportunity to be interviewed, it can boost popularity.
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We have just had our first couple of HAFA experiences and I have to agree, if anything, the time frames have been extended. Hopefully they get the kinks worked out soon!