Shortsalenurse's HAFA Blog

January 5, 2011

Let’s Go Public – OPEN LETTER – Why is Bank of America not Following HAMP / HAFA? Computer Glitch?

I am asked all the time how I make my contacts to achieve success for my clients short sales.  The truth is that making contact with the right people is just a matter of effort.  You look for the telephone number or e mail address and you will find it.  Just like a successful loan modification it takes some time, a little luck and the right professional helping you.   Below you are going to see a letter that was written to one of the Treasury Department connections that I have made over the years.  They are always ready to help if possible. If your polite and really care you will be surprised what you can accomplish.  Here is the last letter that I wrote to them.  For Privacy reasons some of the people who received this,  names,  have been removed,  I do not consider them a public players like an elected Congressman.  (letter in Blue Font)

Dear Friendly Party at the U.S. Treasury Department.

I forward the following information to you at the request of the Program Director of the San Diego Urban League, Mr. Henry Miles who is in charge of Loan Modifications.   Mr. Miles is experiencing , on a more and more frequent basis,  cases where  loan modifications and foreclosures are running on simultaneous  twin tracks.  With the end result being that  foreclosure is set within a few days of the HAMP denial without a HAFA Short Sale offer being made to the client.

You will see in the attached PDF document  on  December 21, 2010, .Mr. G$^&%$&%  was notified his HAMP loan modification was denied.  When he called in to Bank of America to determine why the loan was denied.  He was directed to call a HUD Counselor.  Mr. Miles believers that there is in fact a possibility to do a loan mod in this case, however with a Trustee Sale date looming in a about two weeks there is little he will be able to achieve without a delay, and this could in fact effect this homeowners right / opportunity to do a short sale.

He has requested that I list the property for the clients which I have done. I am sending a copy of this to Bank Of America to notify them that HAFA was not offered to this client as is required and hopefully they will be able to forestall the date and do the SSA form as required.
As you know the lack of ability to get all the players on the same sheet of music, is hurting our communities.  Just a few days ago our community suffered a tragedy where someone ended their life because of foreclosure.
When I read this article (link  above)  all I could think of was why was there was not a HAFA Short Sale on this property? Would  a little travel money for these senior citizens made a difference and made them feel cared for and connected to the community?  My heart is screaming at me!  I have to fight for these  people,  but without a meaningful adherence to the rules, with some penalty for rushing to foreclosure without a short sale offer, we as a Nation are looking at creating more of these situations.

I keep wondering, how can a burned out foreclosure, with dead homeowners  in any way be better than having short sold this property.   I know you feel the same moral dilemma I do, I am sure everyone reading this does, including everyone at Bank of America.  How do I do my part to help our community adhere to the HAMP / HAFA rules?

Do I write  a few more letters?  Does the public take to  screaming from a mega phones into Congressional Offices? I  know that will not work,  because  I know each of the Congressmen feel my same frustration, they see on a daily basis the Banks are not implementing the rules. Hopefully this issue can be addressed by Congress and Treasury, soon.  If we can put man on the moon we can offer a short sale after a HAMP denial, especially factoring in that it’s supposed be mandatory.

Should this  case result in a foreclosure I will advise you.  For now Mr. G(*&^(&#@ is my client and I want to do all I  can to get him ,  a loan mod first and if necessary a short sale  with the move out money provided for in HAFA.   This would create a win win situation,  as Bank of America would even get the HAFA Sericer money.  I have never seen a bank turn down profit opportunities, this has to be a mistake.   The only thing that makes me think it  is not a mistake is that as I was drafting this letter to you another person called me with the same issue, also from Bank of America, this person is another real estate professional that works in the title and escrow field.
When will a resolve come to our communities?  I encourage you, my Congressman and the Banks to act on this before there is another tragedy comes to pass.

George Kenner
Broker Associate
Keller Williams Realty
4700 Spring Street, Suite 180
La Mesa, Ca. 91942
lic. 01229951
CC: Henry Miles , San Diego Urban League
Multiple Congressional Offices in San Diego County
Bank of America Loss Mitigation Management
California Association of Realtors
National Association of Realtors
********, American Banker
Rayam Mathoda, Assetplan USA,  (CAR HAFA TRAINER)
Mr. Steve Schmidt , San Diego Union Tribune (author of the above listed story.) 

At this time this was written the investor has not been determined,  if it is discovered to be Fannie Mae or Freddie Mac a copy of this e mail will be  forwarded to them to ask for HAFA consideration.  As best can be determined  the loan was a Countrywide loan that could be part of a  forced buy back from Fannie or Freddie.


George Kenner

Ca. Lic. 01229951,  tel 619-723-5714 ,

all marketing done with the assistance of Kalablash Marketing

“good night Mrs. Kalabash were ever you are”


1 Comment »

  1. Most of the blogs online are pretty much the same but i think you can add some value. Grats !

    Comment by Eden Dickus — January 13, 2011 @ 6:14 pm | Reply

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