Comment

Comment by Jim Stewart on June 12, 2012 at 8:41am

Looking for "Next Step" advice from the group here. Have a FHA short sale that was approved for PFS program but went through the entire marketing period without selling due to a high appraisal value.  After the ATP expired the seller filed chapter 7 and has now been discharged but is still willing to sign for a short sale.  WFC has not yet started foreclosure again since BK discharge.   WFC tells me just to send them a whole new package with an offer, which I did only to be told it is "insufficient" without any other guidance or allowing a short sale to be set up in their system.  Can others provide insight as to how they got short sales approved AFTER the ATP has expired? 

Comment by Kevin - Greenville, SC on June 8, 2012 at 5:37am

@Jessica - https://www.wellsfargo.com/downloads/pdf/homeassist/attorneys_gener...

For qualified borrowers with financial hardship, expanded first and second mortgage modifications that broaden the use of principal reduction to help customers achieve affordability, as well as an expanded short sale program, that would include waivers of deficiency balances.

Comment by Joanne Hodge on June 6, 2012 at 9:56am

Does anyone have experience with Wells Fargo VA Loan "VA Compromise" short sale in California???  Thanks for any insights you can give.

Comment by Jessica Eisenhauer on June 2, 2012 at 4:41pm

Has anyone been able to get the deficiency waiver verbiage in the approval letter since May 1st when their policy changed?  Not including a HUD/FHA or HAFA transaction.  I am waiting to resubmit my short sale, but need to know their policy has changed back to what it was originally... LOL 

 

Comment by Jason Ellis on May 23, 2012 at 9:31am

@Kris - same letter in SC

Comment by Anna Parker on May 23, 2012 at 6:23am

Trying to get negotiator on an FHA SS to submit HUD variance for buyer's closing costs (buyer asked for ~3%).  With current c.c. request, WF is STILL slated to receive ~$7,600 over the minimum net payoff lined out in ATP.  Anyone have any tips on who to contact to ensure this variance is requested? I've had 3 other FHA files where variance was accepted.... Thanks!

Comment by Kevin - Greenville, SC on May 19, 2012 at 4:33pm

FHA - Short Sale Realtor Checklist

Borrower Verification Questionnaire (FHA Loan Only)

Comment by MBanwart on May 17, 2012 at 3:03am

Hi all:  So you can only get Fannie Mae help if you are a member of their Short Sale Assistance desk (there are 11 groups in CA and only 3 nationally).  Has anyone else gotten Fannie Mae's help without being a "MLS member?"

Comment by Thom Colby CA Brkr 888-391-5245 on May 16, 2012 at 3:33am

Wells Fargo CEO [email protected] 415-396-7152 or in the Southeast [email protected] 404-877-6921

Comment by MBanwart on May 16, 2012 at 3:27am

Quick update -- as per your suggestions, the Seller's RE agent contacted Fannie Mae. She was told by phone that a QCD (since the seller's ex-boyfriend is now out of the picture) does exempt having to get the financials from the Seller's ex-boyfriend. She was also told to send an email to a specific address at FM -- the email was kicked back and said she had to be a member... she doesn't know what that means... does anyone here?  Also, one contact at WF said the QCD is perfect and we can move forward... the negotiator is intent on getting the boyfriend's info and says he'll take it to foreclosure without it.  Any other ideas?

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