Christine Grace
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Christine Grace's Discussions

Need advice on handling Wells Fargo VA loan

Started this discussion. Last reply by Kevin - Greenville, SC May 27, 2013. 3 Replies

I've represented sellers in a few short sales, but have recently been asked to list a home with a VA loan and hope you can give me some advice.  Here's the situation:Owner has a VA loan through Wells…Continue

 

Christine Grace's Page

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Thom Colby CA Brkr 888-391-5245 replied to Christine Grace's discussion Need help with Wells Fargo HELOC in the group Wells Fargo Short Sales
"Go to the County Recorder / Assessor with a letter for their office signature explaining to the HELOC holder that both are one and the same address.  Have the County Recorder / Assessor "Stamp" it with their Official Seal.  Send…"
Dec 16, 2014
Christine Grace added a discussion to the group Wells Fargo Short Sales
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Need help with Wells Fargo HELOC

Very long story short, have received short sale approval for 1st mortgage with Wells Fargo.  Weeks later, still waiting on approval of HELOC because they won't put the file through to underwriting because of a discrepancy in the name of the city the home is in.  All the listing, offer, HUD, and 1st mortgage docs show "Blades".  The HELOC docs show "Seaford". These towns share a zip code and the actual post office is in Seaford, so I understand how this could have happened but don't understand…See More
Dec 16, 2014
Christine Grace joined Wendy Rulnick's group
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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.See More
Dec 16, 2014
Kevin - Greenville, SC replied to Christine Grace's discussion Need advice on Compromise Sale through Freedom Mortgage in the group VA Compromise Sales
"Contact the Borrower's VA Loan Tech."
Oct 1, 2013
Christine Grace added a discussion to the group VA Compromise Sales
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Need advice on Compromise Sale through Freedom Mortgage

I've successfully completed other types of short sales, but this is my first experience with a VA Compromise Sale.  The servicer is Freedom Mortgage, and working with them has been challenging to say the least.  Package was sent to them the first of August, and file is still with their underwriter.  When calling the Loss Mitigation department, they read off notes made in the file and at various times have told me that they are waiting for appraisal to come back or that the appraisal came back…See More
Oct 1, 2013
Christine Grace joined Wendy Rulnick's group
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VA Compromise Sales

Group devoted to discussions for Veterans Administration short sales, called Offers in Compromise, or VA Compromise Sales.See More
Oct 1, 2013
Christine Grace joined Stephanie Lim's group
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FHA - HUD Short Sales

HUD rules for FHA short sales, tips, experiences, etc.Fax LOA:  918-236-3274PH 877 622-8525See More
Aug 27, 2013
Ben Benita replied to Christine Grace's discussion Need advice on getting short sale reopened ASAP in the group Chase
"Escalate the file ASAP on: www.homepathforshortsales.com Call Chase executive offices ASAP. If you email me - Ben@ShortSaleShop.net, I can give you some of our contacts (we don't post them on public forums). We can also get authorized and…"
Jun 23, 2013
Christine Grace replied to Christine Grace's discussion Need advice on getting short sale reopened ASAP in the group Chase
"Thanks Fred and Jan.  I've sent you an email Jan, and appreciate any other thoughts you can share.  We are in Delaware."
Jun 20, 2013
Jan Sanderlin replied to Christine Grace's discussion Need advice on getting short sale reopened ASAP in the group Chase
"What he said... There are some Fannie escalation numbers, you want to get to level #2 asap...where are you located as in what state???  I would be working on a strong back up offer for the wings as well...email me at jan@jansanderlin.com "
Jun 20, 2013
Fred Shocklie replied to Christine Grace's discussion Need advice on getting short sale reopened ASAP in the group Chase
"Go direct to Fannie Mae. Here is the link to the short sale assistance desk.  http://www.fanniemaessad.com"
Jun 20, 2013
Christine Grace added a discussion to the group Chase
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Need advice on getting short sale reopened ASAP

An agent in my office has asked me to step in and help try to save his short sale that is sinking fast and I need your advice.  Only one mortgage (with Chase), Fannie Mae is the investor.  Cash offer at a decent price was received May 5th and listing agent submitted all docs to Chase and was working it through Equator.  Equator messages said BPO's were being reviewed and requested updated financial docs from seller.  Listing agent and/or seller dropped the ball and didn't provide docs so Chase…See More
Jun 20, 2013
Christine Grace joined Wendy Rulnick's group
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Chase

Working with all divisions of Chase. Share tips, stories, reference info!This group is for information, tips and solutions for Chase short sales.See More
Jun 20, 2013
Kevin - Greenville, SC replied to Christine Grace's discussion Need advice on handling Wells Fargo VA loan
"The hardship is often times subjective.  VA Compromise Sales do not have a requirement that the Owner be late to qualify."
May 27, 2013
Christine Grace replied to Christine Grace's discussion Need advice on handling Wells Fargo VA loan
"Kevin, thank you for your post.  Once a contract is in hand, I think they'll meet all those requirements.  I'm just really not sure if their hardship will be considered serious enough if they are not delinquent in their…"
May 27, 2013
Kevin - Greenville, SC replied to Christine Grace's discussion Need advice on handling Wells Fargo VA loan
"In order to be considered for a compromise sale, several factors must be considered: ‰The property must be sold for fair market value. ‰The closing costs must be reasonable and customary. ‰The compromise sale must be less costly for the Government…"
May 27, 2013

Profile Information

First Name
Christine
Last Name
Grace
Are you a...
Agent
State
DE
City
Seaford

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