Comment

Comment by Leslie Kunkel on January 18, 2013 at 5:13am

I just spoke with Wells and was told the foreclosure was postponed. Will they provide this in writing? Or is it best to contact the foreclosure attorney?

Comment by Carolyn Triebold, MS on January 15, 2013 at 6:59am

Anyone have an escalation contact for Wells Equity Line of Credit Dept?

Comment by Wendy Rulnick on January 15, 2013 at 6:55am

Is ASC  using same third party auth forms as Wells? 

Comment by Mike Horton on January 11, 2013 at 10:25am

In previous deals where this has happened I have had the seller negotiate with the 2nd and receive a lien release from the 2nd thereby removing the issue with the first prior to close of escrow. This of course means the seller is paying everything the 2nd wants upfront and then the first would have a HUD that shows no 2nd payoff. If the 2nd does not provide a lien release before closing any payoff with them has to be disclosed.

Comment by Pattilynn Guilford on January 11, 2013 at 10:18am

sometimes the first will allow the extra to the second if borrowed by family and placed in the 400 block of the HUD (you have to have agreements with title about gifts from family) Check with WF to see if this is a possibility.

For future reference - whatever the first says goes to the second is the period at the end. Has always been this way.

Comment by stacy on January 11, 2013 at 10:06am

Ugh! Short sale since summer 2012 with Wells first, USAA junior. Wells said after a few weeks they would release lein for $3000 on a $320k loan and would give USAA $6K on their $60K portion of it. USAA took forever, but finally got back asking for an additional $9k on top of the $6K from seller. Seller has managed to borrow money from family and we were set to close on Tuesday. Now,Wells just said it's a no go, based on the extra $ USAA is getting from seller. Seller has now offered to pay USAA the $9K as long as they approve the $6K on paper to Wells. Anyone dealt with anything like this?? 

Comment by Chad Gelsinger on January 7, 2013 at 6:25am

Please see the attached. [email protected]Wells%20Fargo%20Short%20Sale%20Affidavit%20for%20FHA%20ONLY%20VERSI...

Comment by Denise Sipple on January 7, 2013 at 6:11am

Need  need short sale affidavit version 1.3.  they reject what I send them and keep stating they need "version 1.3" but my request to them for the form is unanswered. 

Comment by Pattilynn Guilford on January 4, 2013 at 7:15am

@Jerry - where's the 'Like' button? lol

Comment by Jerry A Cook on January 4, 2013 at 6:02am

Absolutley right.  First WFB knows exactly what they are doing. Second, we (Realtors) tread on uncertain ground when we have to 'wing' an addendum to comply with someone elses demands.  Our CAR forms protect us as to the language of the forms,  but our 'freehand' addendums are totally drafted at the peril of the agent/Realtor! As a former Claims Administrator, most of the issues I had to resolve were not in 'attorney review/industry approved' forms, but in agent/client interpretation of what needs to be done.

Any Addendum that a Realtor/agent drafts should be reviewed by your clients council, or you should have a 'notice of non-responsibility' filed with the short sale negotiator holding you and your firm harmless of any future litigation that might arise due to the assemelation of documents on behalf of the bank and their client (the seller!)

The challenges dont happen through close of escrow, but 2 years later, when the banks legal staff has time to disect the file and assess blame!   This is one area that I try to force the bank to tell me, not assume what they want.  And I am not successful all the time, either.  Good luck!

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