Comment

Comment by Pattilynn Guilford on June 5, 2013 at 2:37am

Your former bank negotiator? Or someone who processes SS?

Comment by Diane Wheatley on June 4, 2013 at 8:42am

HELP!!  PLEASE!!  I just received word from Wells Fargo that my short sale set-up has been declined due to the proximity of time to the sale date.  My former negotiator dropped the file on the 15th of May.  I discovered this on the 31st.  Sale date scheduled for the 6th.  Complete package sent in on the 31st.  Any suggestions??  Please??  Thank you.

Comment by Pattilynn Guilford on May 30, 2013 at 3:40am

WF doesn't stop a sale less than 30 days out in FL.

Comment by joe beauchamp on May 30, 2013 at 2:28am

Mary Ellen - no. The legal process to foreclose is complicated and often messy because of bad legislation and dumb politicians. The bank usually cannot afford to stop the process. Some jurisdictions heavily penalize the bank for stopping a sale - usually under the guise of helping homeowners, but stupidly hurting them instead. The bank basically needs to march on as if nothing is happening. FHA is different AFTER you get the ATP. A very short term help can be talking to the bank's atty at the last minute - often they will misplace paperwork for you - this does not penalize the bank and gives you a little extra time.

Comment by Kathleen Lordbock on May 25, 2013 at 2:45am

Donna-  I have!

Just closed on a OcWen short with Wells Fargo as the buyer's lender.

They want to see if the contribution to buyer's closing costs is reflected in their lender's expectations. Fairly standard in todays short sale world.

Comment by Neil L. on May 24, 2013 at 12:52pm

Is it true that you cannot submit a new SS Package if it is less than 30 days before the auction with wells fargo?

Comment by Tom Olsewski on May 17, 2013 at 10:30am

I have a Wells Short sale that they just denied without them seeing any documentation? Reason was investor guidelines for short sale review and based on affordability. They have not been late yet but can no longer afford? This is definitely has the possibility of going to foreclosure as they cannot afford. Any idea's?

Comment by TOP END Properties on May 15, 2013 at 5:12pm

Linda, Most HOA come in front of the 1st lien so it's unlikely they will reduce their amount owed.  You will have to try to get the bank to pay the amount owed, take it from the incentive or someone is going to have to come up with cash.

Comment by TOP END Properties on May 15, 2013 at 5:10pm

Relocation means relocation.  If the borrowers moved, then often they are disqualified.  Sometimes they will allow it to be paid to the occupant/tenant .. you'll have to ask.  If they say no, then I guess it's no.

Comment by David A. Roebuck on May 3, 2013 at 3:47am

anyone know the criteria for Wells Fargo to approve the Seller Relocation Incentive.  My seller had to vacate the house for employment relocation purposes and the wife has been living with the mother to care for her 24/7. the older son is staying in the house with his fiance so it is not vacant.  Wells is stating they cannot approve the seller incentive since the borrowers do not reside in the house.  Doesn't relocation waive that requirement??  Help!!!

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