Who IS the lender?
I just got a listing and my client told me her loan is with WELLS FARGO. According to Chase, who is her servicer to go ahead and send the short sale package to WFB directly. I called WFB and their loan is not in the system under the loan number nor under the SSS of both borrowers.
How can I find out who I need to submit the SS package?
Replies to This Discussion
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Permalink Reply by Wendy Rulnick on
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Esperanza - Are you getting this information from the seller or Chase? I'd start with getting a copy of her mortgage statement, and calling to verify yourself. Even if the investor is Wells Fargo, the servicer is who normally handles the short sale. If this is from a loan that was perhaps charged off long ago, get a title agent to do a search now.
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Permalink Reply by Esperanza Agbayani on
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Wendy- Chase is the servicer and the short sale package for the first and second has been submitted to them as per instructions given by Chase. Seller had a trial modification with Chase that starts this July. However, she realized she cannot afford to do it. I pre-opened escrow with Fidelity and checked the prelim. Found out a 3rd lien with Discover Card owned by the late husband as a judgement. Since the Discover Card account was not owned by the wife/seller, it was not included in her BK Chapt. 7 schedule she filed last year.
Question is, if it is worth doing the short sale? She has an NOD in May 2012. I listed it June 23 and now I found out there is a 3rd lien, a judgement of another 10K in addition to 640k on a house listed at 355K. Looks like 3rd has to go away. Seller is ready to just walk away... Since husband is deceased, can this debt not just dropped in a short sale transaction?
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