Comment

Comment by Mega-Pros on December 21, 2012 at 5:26pm

This is frustrating!  I just let an appraiser into on one of my shortsales yesterday thinking this was a positive sign and we were moving toward acceptance on the purchase and sale we have submitted two months ago for this total rehab property in Tacoma, WA...

I went into Equator today and found that they have denied a shortsasle on this property yet had the appraisal done after the denial.  The appraiser tells me that the order was placed through 'Premier Asset Services'  Does this mean that Wells Fargo is just going to sell this right out from under us and can deny the shortsale without reason?  If anyone has had experience in this situation I would appreciate feedback.  Thank you-

Comment by Patrick James on December 11, 2012 at 10:49am

Yeah I felt like an idiot when I went back and read the email on mine. Lol

Comment by Sharon L. Ellsworth on December 11, 2012 at 6:00am

On a slightly different note, I recently had a seller that wanted to do a strategic short sale because she didn't have tax returns or bank statements that would show that she was having a drastic reduction in income.  I discussed it with the bank, Wells and was told that they were going to give me a task to initiate the short sale and that I could upload blank pieces of paper to satisfy those tasks.  It has now moved to investor approval, so we will see if this works.

Comment by Kelly W. Maynard on December 11, 2012 at 5:48am

I did go back and look at the email, that was sent with the Approval Letter, and sure enough, they say what the "Upload Recording Info" task wants.  They want the approval letter signed by the Seller.

When in doubt, go to Short Sale Superstars and get the answer!  It also helps to read the directions... LOL

Comment by Deidre St. Romain on December 11, 2012 at 5:44am

blank paper wins this task!

 

Comment by Deidre St. Romain on December 11, 2012 at 5:27am

that just happened to me too.  I had no idea what that was as well.  I uploaded the HUD and then that task went away and then the new task asked for the HUD...now I have heard nothing..I just need HUD approval and we can close.  Perhaps I should upload the signed approval letter and then I'll get HUD approval?...I think I'll call.  Thanks for verifying what that was though Patrick.  My approval letter says nothing about that.

Comment by Kelly W. Maynard on December 11, 2012 at 5:15am

Thank you everybody!  I am so glad that when I am in need of help, that I have an awesome group of people to help me!

Thanks again!

Comment by Patrick James on December 11, 2012 at 4:52am

It should have been mentioned in the email that contains the approval letter - i asked my negotiator about it, and he responded, and when I went back I saw the instructions in the email

Comment by Patrick James on December 11, 2012 at 4:51am

@Jen and Kelly - They want the signed approval letter uploaded there.  I just had that happen a couple months ago.  :)

Comment by Jen Hill on December 11, 2012 at 4:51am

Hi Lydia, I work with Wells all the time and have never seen a generic LOA.  Whatever you've got with the account number, address, borrower's signatures and last four of their SSN should be acceptable.  Good luck!

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