HAFA Timeline

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HAFA Timeline

30 Days Of Consideration	Servicer Must consider and document Borrower's eligibility for HAFA

14 Days Since Notification	Borrower By written or verbal communication contacts Servicer and requests evaluation	Prior to offering borrower a HAFA Short Sale, Servicer must determine the minimum acceptable net proceeds that the investor will accept.

	Servicer Issues (SSA) Short Sale Agreement and (RASS) Request for Approval of a Short Sale

14 Days Of SSA Effective Date	Borrower Must sign and return Short Sale Agreement

120 Days To Obtain Contract	Borrower Is allowed 120 calendar days from effective Short Sale Agreement date to obtain a contract	Can be extended up to one year with Servicer approval

3 Days Since Offer	Borrower Submits offer to Servicer	Borrower's real estate agent must convey Request for Approval of Short Sale within 3 days

10 Days Of RASS Receipt	Servicer Must approve or deny the offer	Servicer must accept, deny or counter within 10 days

	Closing Successful Short Sale

Questions about the Home Affordable Foreclosure Alternatives (HAFA) Process? Contact a Knoxville, TN CDPE today by using the form below or call us now at 865-310-0636.

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INFORMATION DEEMED RELIABLE, BUT NOT GUARANTEED. The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

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David Hamilton
REALTOR®, SRES®, CDPE
Ferguson Realtors
8085 Kingston Pike
Knoxville, TN 37919
Cell 865-310-0636
Office 865-690-1300
Toll-Free 800-747-0713

By completing a form on this site, you are making an inquiry and are granting your permission for an agent to contact you via telephone and/or email.

The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice. It is strongly recommended that you seek appropriate professional counsel regarding your rights as a homeowner. The above brokerage is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

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