Wells Fargo Short Sale
Help please.
Submitted a WF short sale through Equator. Uploaded all documents requested. Negotiator emailed that file is being removed because there is a surplus. Monthly financial statement asks for monthly NET info which was submitted via Equator showing a -$3,300 per month. Borrower does not have a surplus, she has a deficit. WF wont explain, just rejected SS and removed file. Has anyone had this happen before??? What recourse do I have?
Replies to This Discussion
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Permalink Reply by Jeff Goodrick on
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You'll need to call the 800 and make sure the "Buyer's Verfication form" was completed. I had one recently kicked out of Equator by WF because they said the form wasn't completed. We completed it over the phone and later I was told that this transaction would not be handled through Equator, not sure exactly why.
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Permalink Reply by Patsy Craven on
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Got the same response on Friday. We have asked for clarification, they reply that they are working from gross and
seller has a surplus. I have double checked their financials and they are showing a deficit. Does anyone
know if WF has a set percentage of deficit they need to show before they will be considered? Seller is anxious
to get this approved - but I am clueless as to what numbers WF is using.
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