Comment

Comment by Anna "Banana" Kruchten on November 14, 2012 at 4:56am

Debbie that is the latest FHA version that we just used as well.

Comment by Debbie Enger on November 14, 2012 at 4:11am

I have come across a different version of the Wells Fargo Short Sale Affidavit, that's being required on my file - it's version 1.3

WF%20Short%20Sale%20Affidavit%201.3.pdf

Comment by William Chea on November 11, 2012 at 11:08am

ASP=ASC lol

Comment by William Chea on November 11, 2012 at 11:07am

Yes! ASP used Eq as well.

Comment by Michael P. Jensen on November 11, 2012 at 11:00am

I have an impending short sale with Americas Servicing Company (ASC) and since Wells Fargo uses Equator.com, can I simply initate short sale with Wells Fargo at that portal? 

Comment by Kevin - Greenville, SC on November 2, 2012 at 4:14pm

Wells Fargo will require proof Title will be clear at closing prior to issuance of the ATP - 

G. Condition of Title
All properties sold under the PFS Program must have marketable title. Prior to execution of Form HUD-90045 ( Approval to Participate) the mortgagee must obtain a title search or preliminary report verifying that the title is not impaired with un-resolvable title problems or with junior liens that cannot be discharged as permitted by HUD. If the mortgagee determines that these issues can be resolved, the mortgagor may be accepted into the PFS Program and resolution of said issues may be pursued while the property is being marketed.
Frequently, it is in the interest of all parties to facilitate the discharge of secondary liens in order to clear title. In some cases, junior lien holders will release a lien for a partial cash payment or a promissory note from the mortgagor. Mortgagors who have the financial ability to do so must be required to satisfy or obtain release of liens. Additionally, any incentive consideration payable to the mortgagor ($750 to $1,000) may be applied toward discharging liens.

Comment by John Theis on November 2, 2012 at 11:02am

be prepared...I had a short-fall of $500 and Wells let it go to foreclosure. Wells was paying only $2500 to 2nd & the 2nd wanted $3000. I even told negotiator that I would pay the difference AND they still wouldn't postpone the Trustee Sale...UGH!

Comment by Jim Schneider on November 2, 2012 at 10:55am

To be clear, they're not asking for the 2nd to agree to the short sale or even to accept the $2500 Wells if offering, they are requiring me to show someone with $20,000 in funds to put towards the $20,000 short-fall the 2nd is facing.

Comment by Phil Putnam on November 2, 2012 at 10:53am

Jim,

 

It is a Wells Fargo guideline not to issue an ATP until the 2nd mtg has issued there approval letter, I have fought it for years, because it is not an FHA guideline, but Wells will not budge on it, good luck!

Comment by Jim Schneider on November 2, 2012 at 10:48am

Does anyone have contact info for supervisor Lisa Drefahl?

 

My short sale negotiator is refusing to issue an approval to participate on an FHA short sale, unless we can show $20,000 to fully satisfy the second mortgage! If I don't have this by Monday, he says he's going to kill the file, but Wells tells me a supervisor won't call until at least Tuesday ... you know... after the file is already dead.

 

Feel free to send it to me at [email protected] if you'd like to keep it private.

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