Trying to postpone a sale date!
Finally got a WF approval. They gave us three weeks to close. The lender's ready to fund tomorrow and close on Friday. The WF closer denied the HUD1 and said the buyer's closing costs were out of line and to change and re-submit. The problem is that the closing costs are exactly what they approved, so there's nothing to change.
Now I can't get a hold of the closer (no phone number). I've sent emails to her and anyone else that I thought would listen. There's been a request in since July 25th to postpone the sale, but it's still scheduled for Monday. I called customer service and they tell me she has 48 hours to respond before they will escalate! Helloooo - that's Saturday!
Any ideas?
Replies to This Discussion
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Permalink Reply by Bryant Tutas on
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Melissa. Did you reach anyone to get this sorted out yet? If not you just have to keep pushing. Try to reach a supervisor. Go back to the negotiator that approved the file and see if they can help. If nothing else see if the closing agent is willing to just close the transaction based on the terms stated in the original demand letter. If nothing has changed then I would close. Just document your contact attempts.
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Permalink Reply by Brenda L Wood on
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Sounds all too familiar...
If you have a local lender contact you can have them intercede on your behalf. Sometimes that will get the ball rolling and someone to call you back or at least resolve the looming foreclosure. I had to do this with one and it worked well although it was BOA and not Wells Fargo. If you cannot get in touch with your negotiator, call back customer service and politely demand to speak to a supervisor. Unfortunately you are not within inches of foreclosure (that would be late Friday afternoon :) or they might respond quicker! You may have to repeat these calls and emails every day...
I had the same problem with Wells Fargo closer except we were at the settlement offices and closing. They had already approved the HUD and were fighting with us. We were ready to wire funds. We had to go back and forth adjusting where and how we put things on the HUD (unbelievable) but were able to get it done. Find out exactly what the closer has issue with so that you can either explain HUD1 rules to her/him or move it around on the HUD. I know my settlement office won't close without that final HUD1 approval from WF, and WF won't accept your funds without it.
You might also try to contact the foreclosure attorney directly... although the word does have to come from the bank. You may already have done this, but I would call anyway to see if WF has contacted them to forestall foreclosure and you just don't know yet. If you havent' done so already you would have to fax your Authorization to them before they will speak to you. I can't remember if WF has a separate foreclosure department but you could also try contacting them if there is one.
I am constantly amazed at how hard these banks make things! Good luck and let us know how it turns out!
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