Wacholvia's procedure for Short sales

I haven't done a Wachovia short sale yet, but I went through a "training" a few years ago. I seem to remember that the representative comes out to the seller's house and interviews them. Is that still the case?

Can anyone walk me through it? I'm in Central Valley, California.

Thanks!

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Permalink Reply by Eric Mieles on June 29, 2011 at 4:56pm

Hey Melissa. First you might want to check if your deal qualify's for Wachovia's fast track program. These are loans in their portfolio or some of those old pick a payment loans. You should have an area manger who can check to see if you qualify. If you do then the process will be very simple.

You can advertise in your marketing Pre Approved. Get a purchase agreement and then submit only 4 docs:

-HUD

-Purchase agreement

-Authorization letter

-Fast Track form.

After that the manager will either visit or call to prove legit hardship. Then you off you go. $3-$5k to seller, no prom/deficency, principle or investment, up to $10k to 2nd and one person contact all the way through.

If it's not a fast track then assume the normal process of the short sale. Hope this helps.

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