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Zeller's Blog

By Doug & Bud Zeller | Agent in Placerville, CA

New HAFA “Short Sale Programs” by Bank of America and Chase


In an effort to help agents and streamline the HAFA short sale process, Bank of America and JP Morgan Chase have posted new information and resources online for real estate agents.

JP MORGAN CHASE

JP Morgan Chase has posted a downloadable HAFA-compliant short sale information packet and application online that contains their latest forms to use when applying for a short sale, whether HAFA or traditional.

Portions of the Chase forms are virtually identical to the Request for Modification and Hardship Affidavit (RMA) that is utilized in the HAMP program. The information packet also contains a very detailed short sale document checklist for loans owned or serviced by Chase that agents will find very helpful in assembling their short sale package. To obtain or view a copy of the new Chase Short Sale Information Packet, click here.

BANK OF AMERICA

On July 22, 2010, Bank of America released a very informative document called “The HAFA Short Sale Program: Guide for Agents.” This 10-page document that was specifically created for real estate agents includes (1) borrower eligibility information, (2) a detailed chart comparing the traditional Bank of America short sale to a Bank of America HAFA short sale, and (3) a process and timeline chart outlining the duties of the homeowner, agent and servicer at each step of the short sale process.

Comments

By Property Seeker,  Mon Aug 30 2010, 13:03
Thanks for the great information I really appreciate it!
The Kiper Team
By Property Seeker,  Mon Aug 30 2010, 13:03
Thanks for the great information I really appreciate it!
The Kiper Team
By Bo Pitto,  Wed Oct 20 2010, 16:43
Hmm yeah I guess if the major banks are ever able to lend again!
By Len The Short Sale Guy,  Wed Oct 20 2010, 16:47
I don't know its been pretty drastic for the banks with the most recent foreclosure controversy. Here's an article on it http://www.shortsale-loanmod.com/foreclosure-resources-/47-foreclosure-resources/113-what-you-must-know-about-the-bank-foreclosure-scandal.html
By Wldiamondtools,  Tue May 15 2012, 19:03
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