HELP! WF Calls the seller and tells them the offer is declined....read on...
HOLY COW! I've been working on a Wells Fargo Short Sale since August of 2011. Wells Fargo has got to be the worst I've ever worked with. They SAT on the file for over 6 months basically, we finally got someone to look into the situation, and lo & behold they "found" the file and the offer. A couple of weeks ago they tell me that they are refusing the offer, and going to sheriff's sale stating that their rules are they can't delay the sale again (was delayed once) and tells me to contact the attorney, which I did....still haven't heard from them (2 weeks now). THEN I get an e-mail from WF telling me that the reason the file is closed is because the offer isn't high enough. Ok..so is it that they can't change the sale date or is it because the offer is too low??! We submitted a new offer at 85% of the appraisal which is what I was told needed to be done. NO WORD. 2 days ago my seller gets a call from WF asking her what her intentions are with the property! HUH? She had a LONG discussion with them and told them to check their files as the short sale paperwork is lying around SOMEHWERE! TODAY the SELLER get a call from Wells Fargo telling them that her file is closed and it's going to sale on the 19th of June. I still have not heard a word from anyone at WF! Is this normal for Wells-Fargo short sales? (majority of my SS are w/BOA) It's been a cluster from day one! Anyone have a clue as to how I can get to someone at WF that can actually look into this?
Replies to This Discussion
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Permalink Reply by joe beauchamp on
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Yes, that is basically WF these days. I have not tried their twitter group - @Ask_WellsFargo - some people have.
Results at WF seem to be inconsistent. I've had a negotiator close a file because I asked a question, which she wanted more info, I sent it, she closed the file - for "not responding in time" ?? There is little management there, you don't get anyone who looks into problems. Their escalation people vary and are pretty well hidden.
However, you have not enjoyed a short sale until you have done BofA FHA. WF was the worse (these days, before getting Wachovia, they were the best) until I got several FHA files. The SS reps are not even allowred "to bother" the negotiator until he has done NOTHING for 20 business days. Any email to you qualifies to restart the clock, no matter how useless, stupid or repeat. You get spurts of good people who work at a reasonable rate at times.
Maybe you should try going to OCC and complaining - I've heard some people get a bank to respond to them. http://www.helpwithmybank.gov/complaints/index-file-a-bank-complain...
This is from another post:
Naomi Garner
503-605-8236
[email protected]
Op Mgr, Default Mgmt
Tamara Swain
Sr VP Loss Mit
866-878-5865Good luck!
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Permalink Reply by Julie Alibrando on
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Unbelievable...NOT ONE WORD from ANYONE at Wells-Fargo! Executive complaint department..."we'll return your call within 24 hours" that was a week ago.....no response...e-mails to my negotiator...no response.....Nice way to run a business. I hate to tell them...they will be getting less on the open market after they own it....positively....heck I'm not even sure how the appraiser came up with the number he came up with!!!
Thanks for the help everyone....will keep you posted....although I doubt anything will change now.
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The saga continues....today is the sale date. Spoke to an attorney just to find out if it's true that the sale date could not be postponed, per an e-mail I received from Wells Fargo saying that restrictions in Wisconsin do not allow them to postpone the sale date again, for review of a short sale....well that's not true from what I understand..so now they are quoting Wisconsin laws/restrictions that are untrue....how to these people get away with this?
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Well, the sheriff's sale was this morning. Our short sale offer was $59,500 as we had to UP it from $55K because they said it had to be 85 to 90% of the appraised value....nothing happened, not even a response that the offer of $59,500 was submitted.................................it sold today for............$47,000! 10 months of messing around with Wells-Fargo for nothing. Upset seller that now has a foreclosure under her belt and two agents that have busted butt for nada...oh wait...I'm sure I've learned something from this experience.....
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And remind us and remind us and remind us. I just have a real issue with the lack of logic. I spend every day.....shaking my head. Sure would be nice if something could be done about this sort of thing...but... All I can say now is....................NEXT!
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According to a friendly MI person, you can still do the short sale during the period of redemption - which varies by state/county.
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Permalink Reply by Neil L. on
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My file was with the investor for final approval early December 20`11, then just before christmas they closed the file without a reason (although we know it was for year-end numbers). Then when we reopened it they wanted an offer for the full balance of the loan (80k), not what their appraisal said (30k) and closed the file AGAIN. We've been waiting on the file to be looked at by a negotiator ever since. We have a 100% of THEIR appraisal offer on the table, the buyer did their own appraisal which came in the same too.
Since we opened the file AGAIN, it has been in the document collection status (with all paperwork already sent to them) for 3 months no negotiator assigned yet. Sale date is a month away.
I feel your pain and I sure hope i don't lose the house at auction because they're playing "Games".
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Permalink Reply by Glenda Brass on
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Oh my! Now I'm Scared! I'm trying to get information on a FHA short sale with Wells Fargo and am reminded of another conventional transaction that I had. They closed the file on me and would not allow me to resubmit...the property eventually went to sale. Thought it was just me, but now I'm a little worried. Anything else i need to do with the FHA transaction...paperwork, etc., i would appreciate the help. I also understand that I need the case number as well. Any advice? thanks
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