Wells Fargo Short Sale issue - Short Sale Superstars2024-03-28T09:17:20Zhttps://shortsalesuperstars.com/forum/topics/wells-fargo-short-sale-issue?feed=yes&xn_auth=noUpdate:
They won't budge from…tag:shortsalesuperstars.com,2012-06-19:3468065:Comment:2430722012-06-19T21:02:42.022ZTrong Danghttps://shortsalesuperstars.com/profile/TrongDang
<p>Update:</p>
<p>They won't budge from 75% of the balance. Good news is that the bank is willing to chip in $2500 at closing. </p>
<p>Update:</p>
<p>They won't budge from 75% of the balance. Good news is that the bank is willing to chip in $2500 at closing. </p> Lets say that they agree to s…tag:shortsalesuperstars.com,2012-06-19:3468065:Comment:2432852012-06-19T19:12:56.272ZTrong Danghttps://shortsalesuperstars.com/profile/TrongDang
<p>Lets say that they agree to settle for $5000, is it possible to coordinate it so that at closing, the lien pays $$2500 and then my client will bring in $2500?</p>
<p>Lets say that they agree to settle for $5000, is it possible to coordinate it so that at closing, the lien pays $$2500 and then my client will bring in $2500?</p> See if seller can come up wit…tag:shortsalesuperstars.com,2012-06-19:3468065:Comment:2431392012-06-19T18:40:12.836ZWendy Rulnickhttps://shortsalesuperstars.com/profile/WendyRulnick
<p>See if seller can come up with anything, and/or buyer. They may actually come down from 50%. The foreclosure from the mortgage holder is not related to the credit card judgment...</p>
<p>See if seller can come up with anything, and/or buyer. They may actually come down from 50%. The foreclosure from the mortgage holder is not related to the credit card judgment...</p> I just talked to them about i…tag:shortsalesuperstars.com,2012-06-19:3468065:Comment:2431782012-06-19T18:15:29.745ZTrong Danghttps://shortsalesuperstars.com/profile/TrongDang
<p>I just talked to them about it and they say that his balance is $10,808 and that $2500 is way below 50% and therefore, they will never accept it. They wanted $7,881. I followed up with, "is there a guidelines % that you can accept?" And she just kind of ignore the question and said again it is way below 50% and they will never accept it. When I brought up about the house is being foreclosed on and most likely this lien is going to be wiped out anyways, and then kindly asked if she can…</p>
<p>I just talked to them about it and they say that his balance is $10,808 and that $2500 is way below 50% and therefore, they will never accept it. They wanted $7,881. I followed up with, "is there a guidelines % that you can accept?" And she just kind of ignore the question and said again it is way below 50% and they will never accept it. When I brought up about the house is being foreclosed on and most likely this lien is going to be wiped out anyways, and then kindly asked if she can help assist me with this, she said that this is a judgement and it goes with the owner? even after a foreclosure, they can still pursue him?</p>
<p> </p>
<p>What can I do now?</p> It sounds like it! If so, tha…tag:shortsalesuperstars.com,2012-06-19:3468065:Comment:2429712012-06-19T17:51:36.606ZWendy Rulnickhttps://shortsalesuperstars.com/profile/WendyRulnick
<p>It sounds like it! If so, that is fantastic! Follow up with the creditor and see if that will do!</p>
<p>It sounds like it! If so, that is fantastic! Follow up with the creditor and see if that will do!</p> This is the correspondence I…tag:shortsalesuperstars.com,2012-06-19:3468065:Comment:2431322012-06-19T17:37:39.722ZTrong Danghttps://shortsalesuperstars.com/profile/TrongDang
<p>This is the correspondence I got from Wells Fargo:</p>
<p>"Hello, I am currently processing this account and have reviewed title (See details copied/pasted below). A judgment, a certified copy of which was recorded AUGUST 05, 2011 as INSTRUMENT NO. 2011-xxxxxxxxxxxx of Official Records. Amount: $14,468.00 and any other amounts due thereunder. Creditor: WELLS FARGO BANK, N.A. Debtor: JOHN DOE, I will need a lien release that does not exceed $2500 dollars or letter of satisfaction to proceed…</p>
<p>This is the correspondence I got from Wells Fargo:</p>
<p>"Hello, I am currently processing this account and have reviewed title (See details copied/pasted below). A judgment, a certified copy of which was recorded AUGUST 05, 2011 as INSTRUMENT NO. 2011-xxxxxxxxxxxx of Official Records. Amount: $14,468.00 and any other amounts due thereunder. Creditor: WELLS FARGO BANK, N.A. Debtor: JOHN DOE, I will need a lien release that does not exceed $2500 dollars or letter of satisfaction to proceed on this account. Thanks!"</p>
<p> </p>
<p>Does this mean the Wells will actually pay up to $2500 at closing to get this CC debt settle for my client?</p> Wow, I over thought. Thank y…tag:shortsalesuperstars.com,2012-06-15:3468065:Comment:2422892012-06-15T00:16:49.655ZTrong Danghttps://shortsalesuperstars.com/profile/TrongDang
<p>Wow, I over thought. Thank you Wendy.</p>
<p>Wow, I over thought. Thank you Wendy.</p> Trong - Just "ask". It's not…tag:shortsalesuperstars.com,2012-06-14:3468065:Comment:2422852012-06-14T23:30:09.318ZWendy Rulnickhttps://shortsalesuperstars.com/profile/WendyRulnick
<p>Trong - Just "ask". It's not an uncommon request. Explain it's a short sale and ask if they will release their lien. You could send then the title search or payoff proving the mortgage liens exceed the home value/sale price, and the preliminary HUD. I don't ever state the overly used expression you quoted... it is really not necessary. This is the current reality.</p>
<p>Trong - Just "ask". It's not an uncommon request. Explain it's a short sale and ask if they will release their lien. You could send then the title search or payoff proving the mortgage liens exceed the home value/sale price, and the preliminary HUD. I don't ever state the overly used expression you quoted... it is really not necessary. This is the current reality.</p> Thanks Wendy and Becky, you g…tag:shortsalesuperstars.com,2012-06-14:3468065:Comment:2421832012-06-14T23:26:48.943ZTrong Danghttps://shortsalesuperstars.com/profile/TrongDang
<p>Thanks Wendy and Becky, you guys are always so helpful on here. Another question, how should I proceed to negotiate with them? I mean, what kind of incentive beside from the overly used, "my client will let the house to go foreclosure and/or filing BK" can I use to enticed them to work with me and settle the debt for as little as possible for my client?</p>
<p>Thanks Wendy and Becky, you guys are always so helpful on here. Another question, how should I proceed to negotiate with them? I mean, what kind of incentive beside from the overly used, "my client will let the house to go foreclosure and/or filing BK" can I use to enticed them to work with me and settle the debt for as little as possible for my client?</p> Amen to getting Title researc…tag:shortsalesuperstars.com,2012-06-13:3468065:Comment:2415402012-06-13T16:32:26.901ZBecky Martinhttps://shortsalesuperstars.com/profile/BeckyMartin
<p>Amen to getting Title research!</p>
<p>Amen to getting Title research!</p>