10-22-2012 09:42 AM
I'm going through a HAFA short sale right now, with no 30 day late payments. I have not paid October's bill because the Short Sale was to close by the 19th and extended a week. I will let you know what happens. This is with BofA and they told me they do not report a late payment until after 30 days.
10-25-2012 12:00 PM
The buyers lender (also BoA) has not issued Loan Docs as of today. Looks like I will have to pay October's mortgage inorder to avoid a 30 day late. I'll keep you up to date when it closes and I get a FICO score update.
10-29-2012 02:11 PM
So, my HAFA loan has not closed because of the buyers lender has not finished docs. Should probably close this week but in order to avoid a 30 day late, I paid my October bill today.
At least, if everything goes smoothly and we close in the next couple weeks, I will be able to close my HAFA short sale without any 30 day lates.
10-29-2012 04:10 PM
10-30-2012 11:49 AM
You should ask BOA if they will report it as a settlement (even without lates that is bad for credit) ask them how it will b updated? Leet me know? Hope it goes well for u!
This is the link to the BoA website:
If a short sale is completed on your property, we will report that your loan was “paid in full for less than the full balance.”
What is the ramification of this?
12-05-2012 09:19 AM
I just completed the HAFA short sale on 11/20/12. It was reported by BoA on December 1, 2012 with a derrogatory comment was made that affected by credit:
EQ: 806 to 694
TU: 811 to 677
Not sure why the TU dropped so much more that the EQ.
01-21-2013 11:02 PM - edited 01-21-2013 11:03 PM
We completed a HAFA short sale w/ BofA in Nov 2012. The tradeline in our Experian report says,
Status: Paid in settlement.
Creditor's Statement: Account legally paid in full for less than full balance.
It also shows 30-150 days past due.
Is this consistent with BofA reporting "Account Status Code = 13"?
My TU score went from 730 to 660, but I had other baddies on my report.