Comment

Comment by Sherrie Barker on June 17, 2011 at 2:09am

I have a short sale with Wells. Only the one Bank. Seller filed taxes for 2009 using Turbo Tax. Forgot to print a copy of the 1040. Turbo said they don't keep records longer than a year. She got a Test Transcript. Wells said they will not work with a Test Transcript only 1040, because Freddie Mac is the investor. IRS would only let her request a copy and that will take 60 Days and can only be mailed. We have had a buyer for a month, buyer doesn't want to wait that long. 

Does anyone have any suggestions? Seller is beside herself.

Comment by Sue Fitzhugh on June 15, 2011 at 7:05am

I'm wondering how long it's taking to get approvals thru Wells. I have a buyer interested in a house with two WF loans. The listing agent told me the seller applied for a loan modification and was turned down and told to try to short sale it instead. They uploaded the sellers docs into Equate 2.5 weeks ago. How long do you think it will take to get an answer?

Comment by AMY GERRISH on June 14, 2011 at 9:34am

@Ron - there are usually 3 stages. 

1. Processing - they make sure you file is complete and up to date.

2. Negotiator receives it from the processor and makes sure it's complete.

3. Negotiator sends it off to investor and/or insurers for final approval.

 

Comment by Sean Barrow on June 14, 2011 at 9:29am

Pamela,

Thank you very much for those phone numbers, I really appreciate it.  I'll let you know what we can work out!

 

Comment by Ron Galbreath on June 13, 2011 at 3:18pm

When a Negotiator mentions that she is in Stage 3 with the file,
what does she mean? How many stages are there?

Comment by Pamela Lester on June 13, 2011 at 11:20am

Sean,

RE: Wells Fargo... These are the 3 numbers I called, and think the nice lady was at the first number:)  Good Luck to you!

1-800-840-5812 (Wells Fargo Home Mortg office of the President/Exec Retail)

1-800-853-8516 (Exec President of Wells Fargo Mort Servicing Dept

1-866828-9436 Exec Dept of Home Equity Mortgage (2nds)

Comment by Pamela Lester on June 13, 2011 at 11:09am

Sean, are you talking about the Wells Fargo loan or the GMAC loan?  The GMAC info is below.  If you are talking about the Wells Fargo, I can take a few minutes and check for her name/number........

Comment by Sean Barrow on June 13, 2011 at 11:04am

Pamela - Thank you!  That's great to hear.  I'm off to do the same thing...unless of course you'd like to send me the number of that nice lady you spoke with :)  Thanks again!

Thom - That sounds like an interesting idea as well.  Have you heard success stories from anyone who's taken that approach?  I imagine that would be an interesting story to hear.

Comment by Pamela Lester on June 13, 2011 at 11:01am

I called 1-800-766-4622 and got customer service.  I explained to the representative I wanted to talk to a manager about my short sale commission.  She connected mt to Leslie (ID# 8927034.)  After I explained my situation to her she connected me to her manager, Brett.  He gave me his phone number:  1-800-766-4622, then hit option 5 then extension # 2365809.  We have a team and when I write on one of my short sale listings, I make sure the offer is written in one of my teammates names as I have heard GMAC will only pay a total of 3% if you double pop both sides.  Can you withdraw the offer and resubmit it in your Brokers name?  Lots of luck!

Comment by jennifer mullen on June 13, 2011 at 10:37am

Pamela,

 

I have one with GMAC now that is not Freddie/Fannie.  I have both sides of the deal and they're saying the investor will not pay more than 3% commission.  Can you tell me who you called?  Thanks!

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