trust
We have a short sale with Wachovia which is held in a Trust (Mr and Mrs Seller, Trustees of the Sellers Trust). We were told today that it is Wachovia's policy to not speak to anyone about the short sale except the Trustees, even tho the Sellers/Trustees have signed a written authorization for us. So we can't do follow up or anything, which is what the Sellers hired us for. Anyone else had that happen? Is there a way around it?
Replies to This Discussion
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Permalink Reply by Alan Remigio on
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I am involved in several Trusts. My written authorization is notarized in lieu of sending in the trust document. This is one difference as the lender needs to verify (without the lenders negotiators doing "lawyering") the trustee is who he/she is. Notary's provide that verification, if the Trustee does not want to reveal the beneficiaries of the trust by sending in the document. Different from lender to lender. To answer your question, get the 3rd party authorization specific to addressing the Trustee's relationship to the property and notarize it. Your standard 3PA may not do.
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Permalink Reply by Karyl Moore on
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Thank you! I'll try that.
Alan Remigio said:I am involved in several Trusts. My written authorization is notarized in lieu of sending in the trust document. This is one difference as the lender needs to verify (without the lenders negotiators doing "lawyering") the trustee is who he/she is. Notary's provide that verification, if the Trustee does not want to reveal the beneficiaries of the trust by sending in the document. Different from lender to lender. To answer your question, get the 3rd party authorization specific to addressing the Trustee's relationship to the property and notarize it. Your standard 3PA may not do. -
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