My client took out a HELOC from Wachovia that is now owned by Wells Fargo. The First TD is foreclosing. Auction date is next month.
I cannot find a Wells decision maker to accept a short payoff without going through the usual paperwork of Offer, Financials, etc. I will pay for the name of someone at Wells who can quickly make a deal.
Thanks,
858-259-8021 California
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Thanks for your answer. I had already emailed Randy. He only deals with 1st TD's.
I know that what I am trying to do is difficult but someone at Wells (They bought this HELOC from Wachovia.) should realize it is better to get a short payoff than to get wiped out at Auction.
Is the 1st a full payoff? As Brian said, you will need to be reviewed by whichever lien(s) are being shorted. Whoever has a contact who can instantly approve deals is relaxing in the Bahamas right now!
310-564-6389
1st will go to Auction. We have held them off 3+ years already so I need to extinguish the Wells HELOC so we can lower the price now. It is hard to believe that there is no way to expedite a decision by Wells that will get them some payoff before being wiped out.
Update
We are now in contact with the Liquidations Department and will send a Hardship Letter with an Offer.
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