Effective February 1, 2015 the Making Home Affordable (MHA) Program has increased the HAFA relocation incentive for qualifying sellers to $10,000. Wells Fargo HAFA Short Sales are now offering $10,000 when qualified as the programs changes have affected all mortgage servicers and investors who participate in the program.
The updated Wells Fargo HAFA Short Sale program guidelines state that a borrower, tenant, or other non borrower occupant who live in the home as a primary residence and is forced to relocate as part of the HAFA short Sale may be eligible to receive a relocation incentive of $10,000.
You can ask Wells Fargo if they can review your Wells Fargo short sale for a Wells Fargo HAFA short Sale with the increased $10,000 relocation assistance as a part of your current Wells Fargo HAFA short sale review.
Wells Fargo will use a few ways to confirm if the home is occupied and who occupies the home so they can be reviewed to receive the relocation assistance through the Wells Fargo HAFA Short Sale program.
Wells Fargo will require a utility bill from current occupant weather it’s the borrower, tenant, or other non borrower occupant to confirm they are living in the property.
Wells Fargo will also confirm through the report of the value of the property if the property is occupied however this is more to confirm that its not vacant. During their time in the property an appraiser or BPO agent completing the value may not really have any way to be confirm if occupied who the property is occupied by.
The relocation assistance increase to $10,000 also applies to Wells Fargo deed-in-lieu of foreclosure(DIL).Wells Fargo HAFA Short Sale by email@example.com