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Comment by Andi K on September 14, 2010 at 11:58am

Thank you, Selene. Such a fast answer! I have my mortgage & closing docs in front of me. Can you tell me which form I am looking for? I don't see any info other than WF on the paperwork. "New 1st Lender: Wells Fargo Bank, NA"

Comment by Jessica Rodriguez on September 14, 2010 at 11:50am

@ Andi K Before you stop making you payments I would contact the investor on your loan, You can find this out on your closing docs, I would explain to them what is going on because the whole problem with these loans is we have all these servicers and banks doing the negotiations but the simple fact is that the investors are really not finding out what is going on till they get the pary off check from who ever is handling the file.

Comment by Andi K on September 14, 2010 at 11:39am

Our second home (in Colorado) has been FSBO for two years and agent listed May of this year. We owe $200K and received an offer for $175K in July. The buyers are getting their loan though WF. All short sale papers were submitted (twice) and deemed received Aug 8 by WF. Yesterday, WF turned down the offer because we are not two months late on payments. Omg, it's true! We are up-to-date on all payments, but have had to pull out of our annuity every month for over 18 months to make the $2K monthly payment. (The taxes on that money have been hell.) The property has MI through Radian and that seems to be the issue for WF. (Our annuity is through WF, along with all our savings/checking accounts.) My questions: -1- Should we quit paying on the property? -2- Will this be more disruptive to our credit report? -3- Is there a way to escalate this with WF and get someone there to see the light of day, and if so, who? -4- Should we pull all of our monies out of WF? If it is a foreclosure they want, we have no problem giving it to them other than our credit score plummeting. -sigh- We have always paid our bills, and yet life threw some major dilemmas at us two years ago and we are still reeling from them. Any assistance would be much appreciated.

Comment by Brigitte Powell on September 10, 2010 at 1:51am

Good question.....in Virginia an attorney has told me that the no note thing is a poor thing to hang you hat on, because that just adds to your problem. My former Seller's servicer could not find the note either (from C. taken over by BOA) but that did not absolve her. I hope some of the others will answer you question. I'm curious also

Comment by Jessica Rodriguez on September 10, 2010 at 12:53am

New law in the state of florida states if their is no note produced by the lender no foreclosure. So now we have all these lenders recording note's. My question is how can one challenge the bank if our state uses MERS and the doc's are recorded at time of signing the note.

Comment by Jessica Rodriguez on September 10, 2010 at 12:43am

Hi I am haing issues with Chase and the Florida Default group in tampa. They we are working a loan mod for borrower and the recorded the note with out us requesting it. Well they sent the borrower the whole package as well but did not send it to the property address where she resides, They sent it to her church how embarassing, We have called them Sent letters to remove the address that is her church and now yesterday they sent again certificate of compliance with administrative orders. What else can she do to stop this?

Comment by Brigitte Powell on September 3, 2010 at 1:44am

Tiffany...a monthly surplus AFTER he pays his mortgage? :-) Why is he not renting it out? Hope he doesn't have his mortgage where he banks .....they can take his money out........850,000 in stocks? How much is his house worth? I would say you have no idea what the servicer is willing to do until the Seller speaks to the servicer. You could be wasting your time. Seller needs to find out what his/her choices are first ...in my book anyway. I would not take the listing until all cards are on the table..and you all know which way to go. Hit and Miss is just more work ...unless you don't mind working for peanuts :-) - just my thoughts

Comment by Katerina Gasset on September 2, 2010 at 3:30pm

There does not have to be a hardship to do a short sale.

Comment by Katerina Gasset on September 2, 2010 at 3:29pm

Tiffany- of course I would take the listing, with the understanding and full disclosure to him that the lender may want him to contribute to the loss. When you discuss the fact that let's say you can negotiate for him a deal where he pays 20 cents on the dollar- that is a great financial deal.

Comment by Tiffany Cloud on September 2, 2010 at 3:27pm

I have a seller who wants to do a short sale. His income has decreased by 1/3 and will be decreasing again in about 10 months, but he has a monthly surplus of $400 presently and quite a lot of money in the bank as well as about 850K in stocks. He is current on his mortgage. Would you take this listing?

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