WF and ASC can not remove file from modification

What do I do?

I have had a file I have been trying to remove from modification for almost 30 days now. I have called into the clients "point of contact" several times, and of course can only get voice mail. I have asked to escalate the file to the supervisor. I have called in twice a day, and still can not get it done.

The file was originally initiated for SS through Equator. Denied because in modification. I can not start the short sale until it is removed from modification.

Please help!!!!!!!!!!!!!!!!!!!!!1

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Replies to This Discussion

Permalink Reply by Melissa Polce on March 26, 2012 at 4:24am

Your SELLER must call in and get it removed(I would tell my seller not only to call in to ASC LM, but also call in through the loan mod number they were given, and also any other # they may have). Its the only way...let the seller know he/she must be polite but stern and let them know the bank is holding up this possible short sale and that they(the borrower) no longer wants to do the modification, they wish to sell the property and to please re-establish task in Equator, ASAP...some employees at the banks/servicers can do it while borrower is on the phone or within 48-72 hours.

Good Luck!

PS...Remember Wells disclosures go with that ASC offer! :D

Permalink Reply by Barbara J. Rice on March 26, 2012 at 5:32am

I agree with Melissa. Its up to the homeowner to make the calls. They need to be aware that the bank will do the "collecting a debt" language but that as long as the homeowner is firm in their decision it should move things along.

Good luck.

Permalink Reply by Bill Somerset on March 26, 2012 at 5:38am

I should clarify a bit.

The seller has called in to the point of contact, and the retention team. The seller has also sent a email stating they no longer wish to pursue modification.

My calls are only to verify that it has been removed. Everyday I'm told there is a note in the system for it to be done, but they never seem to get it done.

Permalink Reply by Kim Eisen on March 26, 2012 at 6:54am

The only way I got mine out of the modification 'hell' cycle was to have the Seller send in to Wells general fax # that she didn't want the modification, never did, and the financial review for the SS was completed on Jan 10, she had an offer submitted on Jan 3 for a short sale and that's the only thing that she was willing to discuss anymore and if something wasn't done she would have no alternative but to file a complaint with the OCC. Then after call someone in the short sale department, depending on what type of loan you have and it seemed to at least stop the cycle and get things going in the right direction. .

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