to all short sale investors on the board.
how do you see the HAFA program affecting the way you do business?
There are some really good posts about this around, and some excellent blog posts on it. The thing is that HAFA wasn’t designed for investors, but that doesn’t mean it can’t work for investors, you just have to be creative. Specifically there are (IIRC) seasoning requirements for holding properties as part of HAFA, but investors are switching up tactics (like note buying) to circumvent certain restrictions. I should be putting up some articles soon on my own blog about this, but here are some good links:
http://hafa-program.com/hafa-for-mortgage-lenders/hafa-sevicer-incentives.html
http://www.shortsalesuperstars.com/profiles/blogs/what-is-all-the-hullabaloo
Good luck!
thank you for your post.
the information i’m looking for is the creative methods in which investors will use to continue to flip short sale properties. i just started looking into note buying, however, this doesn’t help my current short sale business ;]
hopefully, this new program doesn’t prevent investors from flipping these deals.
Did you have any luck reading about this? I was reading a blog yesterday that mentioned that the hAFA program is compulsory, and even within a lender they don’t have to abide by it. Not sure how true this is or not, I’ve had a difficult time finding the “reality”. Some state as long as you disclose you are still O.K., but that doesn’t seem to jive with the “can’t reconvey for 90 days” language.