Replies to This Discussion

Permalink Reply by Tammy Davis on August 4, 2010 at 7:56pm

**IF THERE IS A FORCLOSURE SALE DATE SET - WE WILL NO LONGER POSTPONE THAT DATE FOR ANY REASON - if there is an active forclosure Sale Date we MUST RECEIVE funds no later than 5 DAYS before that Sale Date, also if there is a SALE DATE set we must receive the full package 10 bussiness DAYS prior to that sale date (and again, we will not postpone that date)**
FOR EXAMPLE:
If you are SUBMITTING A SHORT SALE PACKAGE on a property that has a SALE DATE SET FOR AUGUST 30th, the SHORT SALE APPROVAL WILL BE ISSUED with an expiration date of AUGUST 25th and we will NOT EXTEND the Short Sale approval or SALE DATE


Sandra Villalpando
Short Sales Manager
Wachovia, REO
Cell: 408-817-0056
Fax: 408-248-3416
[email protected]

Permalink Reply by DanaVoelzke on August 5, 2010 at 1:37am

Thanks for letting us know. In my State the borrower can still ask the Judge for an extension of the law date as far as I know.

Permalink Reply by Dawn Barrier eXp Realty Vegas on August 5, 2010 at 3:52am

Interesting, hmmm....so much for wanting to do Short Sales over foreclosures....

Tammy Davis said:

**IF THERE IS A FORCLOSURE SALE DATE SET - WE WILL NO LONGER POSTPONE THAT DATE FOR ANY REASON - if there is an active forclosure Sale Date we MUST RECEIVE funds no later than 5 DAYS before that Sale Date, also if there is a SALE DATE set we must receive the full package 10 bussiness DAYS prior to that sale date (and again, we will not postpone that date)**
FOR EXAMPLE:
If you are SUBMITTING A SHORT SALE PACKAGE on a property that has a SALE DATE SET FOR AUGUST 30th, the SHORT SALE APPROVAL WILL BE ISSUED with an expiration date of AUGUST 25th and we will NOT EXTEND the Short Sale approval or SALE DATE


Sandra Villalpando
Short Sales Manager
Wachovia, REO
Cell: 408-817-0056
Fax: 408-248-3416
[email protected]

Permalink Reply by Amy Martin on August 5, 2010 at 4:26am

I am in Southern California. I have a FAST TRACK Wachovia Short Sale Approved. What if we cannot close by the sale date? Is this an exemption Tammy?

Permalink Reply by Ben Benita on August 5, 2010 at 4:35am

that is NOT 100% true....you can ALWAYS contact the Investor on teh note about stopping the foreclosure.....

I know as agent's you guys do not get paid on foreclosures, but, when we get contacted with only a few days prior to the foreclosure auction, we ALWAYS give it a shot (this is the ONLY reason we do not have 100% short sale closure rate), and, ALWAYS tell the homeowner about getting PAID TO MOVE OUT via cash for keys.....most of them are EXTREMELY grateful to know they can just sit back and accept some cashola from the Servicer......

Permalink Reply by Kylee Roe on August 5, 2010 at 5:39am

Yes, I was told this too, just a few days ago. Posted about it elsewhere on the site. Wachovia is crossing the fence to the B of A side of life! And Ben, aren't many of Wachovia's (that were originally Wachovia loans) loans are portfolio, so you are talking to the investor, when you're talking to Wachovia!

Permalink Reply by Cami Pinsak on August 5, 2010 at 9:20am

I did receive similar verbiage on a fast track approval.

Permalink Reply by Jeff Bradshaw on August 25, 2010 at 8:17am

At least with BofA you can postpone the date. Thank goodness there are more BofA loans then Wachovia. With equator I have had no problems anymore with BofA. Wachovia can take all of there home back. They will pay for it in the end. Trying to stop the few bad people who worked the system never helps the masses that they are now hurting. Again it will come back on them.

Permalink Reply by henry weiss on August 27, 2010 at 5:41am

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]

Permalink Reply by Amy Martin on August 27, 2010 at 6:11am

I have a Wachovia Fast Track and I am always checking first hand with Trustee. Thank you and I will watch out.

henry weiss said:

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]

Permalink Reply by Cindy LaPeer on September 2, 2010 at 6:57am

I'm having the same type of problem w/B of A. Even though they are still reviewing docs according to Equator, the investor has so no to postponing the 9/7 sale date. I've asked both on the phone and through Equator email to review this one more time. The reps on the phone won't ask again and I don't get replies via email. Also, the rep on the phone told me that the short sale is approved but it says it is still in the review stage on Equator. What the heck?! Any suggestions as to what I can do next?

Permalink Reply by Ben Benita on September 2, 2010 at 7:15am

Cindy -- you just need to reach out to the right ding dong at the bank.......keep trying.

Can NEVER guarantee a foreclosure will be stopped, but, there is ALWAYS someone out there that DOES have the authority to make it happen.....

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