Help-Wells won't talk to widower about his house!!!!
Hi, do any of you have any ideas for me? I have a friend whose wife recently died after 5 years with cancer. She was the only one on title on the home, (even though it was owned with "right of survivorship" so he automatically inherited the home). When she was alive, the husband was on record with Wells as an authorized person that could discuss the loan. .
Now that she has passed away, Wells says that that the authorization is void and that "they cannot discuss the loan with him" (he's needing a short sale or at least more time to try to sell it). They won't let him take over the loan either. She didn't have a will so there's no executor to handle this.
What a horrible catch-22! So the only person that Wells will speak to is a dead woman? He has been trying for two years to work something out with Wells to modify or do a short sale, and has had it on the market for about a year. I'm helping him de-clutter and stage the home (it needed it badly) to sell it quickly, but we don't want to do this and find out that Wells is planning on foreclosing next month (as they won't give him any information about that either).
Does anyone have any ideas? I really want to find someone higher up at Wells that I can appeal to....
Kirsten
Replies to This Discussion
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Permalink Reply by Alex Krumm on
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I had a huge amount of trouble with this a couple of years ago. The seller ended up sending in a short-form death certificate to the lender (I can't remember which one it was at this point) but it took the lender some time and a lot of lollygagging to recognize it ... they did end up working out the short sale.
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Permalink Reply by Thom Colby CA Brkr 888-391-5245 on
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He needs to get an attorney ASAP. Wells will respond to an attorney if they represent the estate.
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Permalink Reply by Chad Gelsinger on
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We have dealt with this with many lenders. I'm not sure which state you are in, but you will need to contact an attorney and open an estate/probate. The husband will have to provide a death cert, estate docs, and a copy of his drivers license to WF. Send the docs in like you normally would. They will end up with the legal dept for 2-3 weeks for verification. Be sure to follow up every couple days to verify they have received them. Once the docs are verified by WF, the husband seller will be able to go through the process. I had one client that did not want to spend the money with an attorney and open and estate. WF would not/could not do anything other than file for foreclosure. In PA, the wife was not liable for any money due to the lender since she was not on the note. Good Luck, [email protected]
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Permalink Reply by Kirsten Conover on
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Thanks, everyone! I am sending him all your resposes and hopefully we'll figure out something that works--it's just almost immoral to me the way Wells is treating him....
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Permalink Reply by Karin Christa on
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Kirsten I just completed a very similar short sale with Nation Star and BofA as 2nd. If you are in California, we have survivor ship as you already mentioned. If there is no will, talk to the legal department within Wells, you will not get anywhere with the customer service people or negotiators. I had to escalate one of my files all the way to the CEO's office at BofA to get an answer and closed the transaction.
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Permalink Reply by Jim McCormack on
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Chad's comments are correct. Your seller will need to open probate and be selected as the executor of the estate and then those documents into the lender.
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Permalink Reply by Barbara J. Rice on
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I had a similar one last year and was able to work things out without a lawyer but you have to be persistent and lucky enough to find a REASONABLE person. And yes, you'll need a copy of the death certificate and tax docs etc. If you find that reasonable person they will help you. Good luck!
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Permalink Reply by Michael P. Jensen on
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Contact a good Escrow and Title contact for backup assistance.
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Permalink Reply by joe beauchamp on
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The bank needs a legal rep for the mortgage/note. This is the estate, so probate is what you needs as mentioned. The ownership is not overly relevant because the mortgage precedes that - to help clarify the issue. The bank needs to talk with someone who represents the mortgage and note - that is the estate and you have no speaker for the estate w/o probate. Don't expect logic or common sense, you need basic control of the situation.
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Thanks again everyone! I've actually contacted a former client who's a probate attorney and he is going to help him pro bono. The attorney also brought up the fact that since the wife had children from a former marriage and there's no will, we'll need releases from all of them, which luckily won't be a problem.
I know this is only the first step--now we have to hope we can get Wells to hold off long enough to let us sell it--after decluttering and staging we may not have to short sell after all--I'll keep you posted!
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