Wachovia Pre Approves Short Sale but won't stop Foreclosure date
Wachovia sent my client a pre approved short sale letter on May 3 2010. They will take 174.699. and must close before July 2nd 2010. He receives another letter May 26th saying they will do a pre approved Short Sale but increases the price and extended the closing date.
I can't get a contract for 174900 let alone 179900. I called Wachovia. The only way to stop foreclosure is to have a Short Sale APPROVED before hand. Foreclosure date is June 19th 2010. They are not giving me enough time to get a contract much less the ten days give or take that it takes to get their short sales approved.
Before, foreclosures were postponed while the short sale was in review. I pray an offer comes right away. I have no time since he can't stop the short sale unless he files for a BK. Any suggestions.
I reduced the price to 169k. They offered him 5k to short sale the home so I hope I can get this done fast.
Replies to This Discussion
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Permalink Reply by Jeff Bradshaw on
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Wachovia used to be the one to go after for short sales. They are now moving into the BofA realm. In fact dealing with them now is worse then BofA with a new guide line of no postponement of sale dates.
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Permalink Reply by henry weiss on
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My Wachovia Fast Track Short Sale listing, with accepted offer, was foreclosed on 8/10 despite written assurance from the asset manager that they would not foreclose. If this has happened to you since Wachovia changed the rules in the middle of the game, please contact me so that we can pursue Wachovia for lost commissions, etc. Henry Weiss... [email protected]
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