Foreclosure in Portland>Question Details

Linda Heinri…, Real Estate Pro in Lake Oswego, OR

Does anyone have a list of the acceptable and non-acceptable seller paid closing costs under the terms of a HAFA approved loan. Standard Short sale al

Asked by Linda Heinrichs, Lake Oswego, OR Wed Jun 27, 2012

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James Gordon ABR SFR SRS ’s answer
Linda HAFA shorts schange over time, the government may decide not to cover different things. At one time Iwas haveing problems getting the transfer fee paid a it was considered a tax and the government refused to pay a local tax.
0 votes Thank Flag Link Wed Jun 27, 2012
This always surprises me and I find new thing out all the time. There is an old fee in one of my local cities for .50 (50 cents). It came back from the lender as a nonallowable fee. Everybody spent more time on fixing the .50 on the HUD-1 than was worth it.
0 votes Thank Flag Link Wed Jun 27, 2012
I don't think my question is clear. Under the terms of a HAFA short sale, the Third Party lenders to the transaction are not allowing some seller paid closing costs. I wish the lender - Wells Fargo in this case - had a list of costs they will allow or not allow to make it simple. But apparently it is a secret list they do not hand out (perhaps because it changes?). Sometimes in the course of doing a short sale someone will come across information like that that is helpful to the community at large. Standard Short sales are not an issue - the secret list only applies to HAFA Shorts:) Help.
0 votes Thank Flag Link Wed Jun 27, 2012
Linda . . . ask your preferred lender and/or your managing broker.
0 votes Thank Flag Link Wed Jun 27, 2012
Dont you think that its best to get that information from a lender? They would be able to tell you what really would work.
0 votes Thank Flag Link Wed Jun 27, 2012
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