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.

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Latest Activity: on Monday

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

Online WF Short Sales?

Started by Neil L.. Last reply by Alexis Adams Aug 2. 3 Replies

Wells Fargo Short Sale - HELP HELP HELP

Started by Allan Robinson. Last reply by Allan Robinson Nov 10, 2016. 3 Replies

FHA Investor Wells Fargo since June of 2015

Started by Robin Lemmons. Last reply by Gladys Nunez Nov 2, 2016. 4 Replies

Comment Wall

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Comment by Thom Colby CA Brkr 888-391-5245 on June 26, 2017 at 2:19pm

The co-borrower is equally 100% responsible for repayment of the loan as well as responsible to participate in the short sale process.  If they do not participate, there likely will be no short sale.

Comment by Brett Goldsmith on June 26, 2017 at 2:11pm

It's highly likely they will want the co-borrowers financials and that they would need to sign the approval letter too or any affidavits. They shouldn't need to sign the listing if they aren't on title right? It's possible the mortgage servicer wants them added back to title though too, I've seen this at times.

Comment by Melody Medley on June 26, 2017 at 2:11pm

I send a letter of explanation as to why you are removing the co borrower along with the quick claim deed. It helps if the co borrower is not living in the property and is not contributing in anyway. I include this information in my letter of explanation as well. 

Comment by Jenny L on June 26, 2017 at 2:06pm

The co-borrower's name was quit claimed off of the deed when we were doing mediation to hopefully eliminate the need for her financials since she did not reside in the property.  Do you think the bank would be willing to assist or not unless both parties were in agreement?

Comment by Brett Goldsmith on June 26, 2017 at 2:02pm

Borrowers need to participate in short sales. If they were on title only they could just get off, but if they are on the loan, it's potentially a huge problem if they don't cooperate as they can't get off the loan. I've seen this many times.

Comment by Melody Medley on June 26, 2017 at 1:55pm

If they won't sign the listing agreement, maybe they would sign a warranty deed over? Then they don't have to be apart of the short sale at all or the listing. Good luck. 

Comment by Brett Goldsmith on June 26, 2017 at 1:46pm

@jenny if the co-borrower won't participate, you likely won't be able to complete the sale. When a borrower doesn't participate in a short sale, it's most likely a deal killer.

Comment by Jenny L on June 26, 2017 at 1:42pm

So...very long and drug out story!!!  Currently trying to short sale after 3 years of mediation with WF.  There is a co-borrower on the loan that refuses to sign the listing agreement.  How to we move forward so we can avoid forclosure?  Is there a way?? 

Comment by Melody Medley on June 7, 2017 at 9:11am

Pass this information to your agent and you can tell your agent to call me and we can talk about how to approach the listing agent (the one processing the short sale)

Comment by Rachel Warnick on June 7, 2017 at 9:06am

Thanks Melody.  I am not a realtor but just a stressed buyer trying to get a house for my family and watching a lot of good regular sales pass us by!

 

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