Wells Fargo Short Sales

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Wells Fargo Short Sales

Wells Fargo and ASC (America's Servicing Company)

This group is for information, tips and solutions for Wells Fargo short sales.

Members: 1438
Latest Activity: Apr 9

Wells Fargo Short Sale Information

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Wells Fargo Short Sale Info and Items Needed

Wells Fargo Short Sale Dept 1-866-903-1053    (see below for ASC forms)
Short Sale FAX 1-866-969-0103
Letter of Authorization Fax 1-866-917-1877

Mortgage Servicing 1-877-841-5301.

Wells Fargo Line of Credit Division 866-961-6861 or 866-970-7821

Third Party Authorization: 866-917-1877 (fax)
Fax: 866-834-7850 or 866-834-7949

Email format [email protected]
OR [email protected]

ESCALATION DEPARTMENT 866-605-0829

Wells Fargo Executive Offices:  800-853-8516

Discussion Forum

HELP: Wells Fargo approved SS now no contact

Started by George Blisset. Last reply by George Blisset Apr 9. 3 Replies

FHA WELLS FARGO SHORT SALE

Started by George Blisset. Last reply by George Blisset Feb 2. 7 Replies

Comment Wall

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Comment by Paula Bachman on April 14, 2015 at 5:28am

Johnna - Yes, you can send in your own generic Authorization to Release. Paula

Comment by johnna lodge on April 14, 2015 at 4:15am

Will wells fargo use a generic authorization to release? I cant find an authorization form for Wells Fargo. Does anyone have a current authorization to release form i can use? Please forward if possible. Thank you. Johnna Lodge [email protected]

Comment by Mary Wilcox on March 13, 2015 at 10:09am

Ted Blaisdell are you still helping in here?

Would you mind letting me know?  I already sent an email to you I'm just making sure you're still assisting because time is of the essence on this one. I'm hoping it's not put on the court docket. =(

[email protected]   is my email.

THANKS SOOOO MUCH!  =)

Comment by Brenda Houghton on February 26, 2015 at 10:23am

When I was dealing with a somewhat similar situation, my concern was keeping myself out of the fray. Of course the buyers know the seller has no money, but hey, everyone knows Realtors and their brokers are loaded. When you're representing a seller who defaults on a contract, the buyer's attorney is going to go where the $$'s are. At the very least, you have to spend money to prove you did nothing wrong.

Comment by Thom Colby CA Brkr 888-391-5245 on February 26, 2015 at 9:59am

I;m not an attorney - though I do suggest you get one of your own quickly.  And, maybe I'm wrong, but, you have performed under your listing agreement and are due your commission.  The Buyer's agent delivered a Ready, Willing and Able Buyer so they are due their commission from you.  I suspect since you had an approval on January 19th which you probably delivered to Seller and Buyer (agent) everyone is due their commission from the Seller.  Ok, they don't have any money but you likely can place a Lis Pendens on the property if it does not close and likely sue WF for interference and collusion.

Did Wells require their typical Addendum to the Listing Agreement stating the seller could cancel at anytime should they transfer ownership by DIL or Foreclosure?

Good luck, I really don;t think this one will close.

Comment by Dean E Eshelman, CPA, CDPE, IRES on February 26, 2015 at 9:25am

The plot thickens -- Wells sends an email. "I am unable to proceed with the Short Sale till we receive a letter form Our Borrower stating that he wants to proceed or not." So closing is tomorrow and all is done except HUD approval that Wells has had for several days and Wells is going to let seller tell them if he wants to breach the contract and Wells is going to be an "accomplis" by sitting on the HUD! Buyers are lawyering up -- going to get interesting.

Comment by Dean E Eshelman, CPA, CDPE, IRES on February 25, 2015 at 10:33am

Brian - Correct, but the seller has no money, except to pay an attorney. Brenda - But Wells can simply set on the HUD until after the closing date and do nothing about approving it. So where does that leave the liability?

Comment by Brenda Houghton on February 25, 2015 at 8:25am

I'm not an attorney, but clearly the seller is setting up himself (and potentially you) for a non-performance lawsuit. Late last year I had a seller who threatened to pull out of a Fannie Mae short sale at the last minute, with a fully executed, no-contingencies-left contract.  The buyers were in a similar situation as are yours, in temporary housing with their stuff packed and ready to go. When I informed the Fannie Mae asset manager on the account of the development, his reply was "Sucks to be you". In our situation, we were able to get the seller back on track by explaining the liability to which she'd be exposing herself (and us!). In Texas, non-performance on a contract can mean treble damages.

Comment by Dean E Eshelman, CPA, CDPE, IRES on February 25, 2015 at 6:44am

Bryant - Agree, Seller decision, not lender. Can't make the seller sign if he choose to default on contract.

Comment by Bryant Tutas on February 25, 2015 at 3:44am

Dean this is really a decision for the seller to make. If they don't want to close you certainly can';t force them. Sounds more like a seller issue than a lender issue.

 

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