Wells Fargo is the Investor on my BofA Cooperative SS listing
I have a SS listing BofA. At first glance it seems like I should be posting on the BofA discussion board (I might do both). We have been bouncing between BofA's SS team, HAFA (AMS third party) and Co-op (National Debt Services third party) . We have had 21 different conversations with different sets of instructions/advice. Well BofA has monkeyed around so much that we are against a trustee date on 3/9. The investor has received a request for postponement. Turns out that BofA says the investor is Wells! Hah! We have received pre-approval to be in cooperative SS program, which of course means absolutely nothing as the co-op team doesn't have the file and we cannot get the 120 days to market the property until they officially put us in the program....any of this make sense? Would you contact the investor, in this case wells fargo, and ask them for a postponement? If yes, does anyone have a good number at Wells Fargo besides customer service to call?
No wonder things are such a mess.....
Replies to This Discussion
-
Permalink Reply by Ben Benita on
-
I was shocked when I first learned this as well:
B of A services some of the Wells Fargo portfolio loans, and, Wells Fargo Services some of the B of A portfolio loans.....huh?
Just the way these notes were securitized and sold off I was told by higher ups, sure does not seem to make sense:
WHY PAY ANOTHER SERVICING COMPANY SERVICE YOUR OWN PAPER????
Just another question to throw into the ever-deep and confusing short sale abyss.....
best of luck....contact me if I can help.
-
-
Permalink Reply by Barbara J. Rice on
-
Have you "escalated" within BofA?
If you have a purchase agreement to purchase the home at or around market value, then YES contact WF directly. (Sorry, I don't have a contact to share with you.) If you don't have a purchase contract yet they are unlikely to hold off the trustee sale. Feel free to contact me directly (702-523-7907) if you'd like to discuss the situation more in depth.
Barbara Rice
Las Vegas, NV
-
-
Permalink Reply by Julie Koleszar on
-
That's the catch 22. Cannot have a RPA and get the cooperative short sale
Barbara J. Rice said:Have you "escalated" within BofA?
If you have a purchase agreement to purchase the home at or around market value, then YES contact WF directly. (Sorry, I don't have a contact to share with you.) If you don't have a purchase contract yet they are unlikely to hold off the trustee sale. Feel free to contact me directly (702-523-7907) if you'd like to discuss the situation more in depth.
Barbara Rice
Las Vegas, NV
-
-
-
I missed the part where you were trying to use BofA's new cooperative program. Unfortunately, since the Trustee Sale date is just around the corner, my experience says they will most likely allow the foreclosure to occur.
HOWEVER, if you have qualified the seller and they have a true hardship, I recommend you keep calling BofA and request to "escalate" the file. You've got to get the attention of someone at the VP level or higher in order to get a person with the authority to actually help you.
My experience is that the upper management of BofA really does prefer short sale to foreclosure, you just have to get past the lower level people who don't have the authority to help you.
Good luck!!
Julie Koleszar said:That's the catch 22. Cannot have a RPA and get the cooperative short sale
Barbara J. Rice said:Have you "escalated" within BofA?
If you have a purchase agreement to purchase the home at or around market value, then YES contact WF directly. (Sorry, I don't have a contact to share with you.) If you don't have a purchase contract yet they are unlikely to hold off the trustee sale. Feel free to contact me directly (702-523-7907) if you'd like to discuss the situation more in depth.
Barbara Rice
Las Vegas, NV
-
© 2024 Created by Short Sale Superstars LLC.
Powered by
**********************************
like buttons