Hi fellow superstars.


I will be opening my first file with a WF Home Equity Line as the second. I have not worked with WF before and the home equity short sale department says they do not work with equator. 

The seller is in Southern California. The equity line is at $99,275. We have multiple offers on the property and will be able to pay off 90% of the first. The first is with B of A. The hardship is excellent, divorce, relocation and job loss.

Can you give me an idea of what to expect from them in terms of time frames, negotiations, etc. On the HUD1 initial estimate what would you put for paying the 2nd?


Beth Walsh


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I am just now finalizing a Wells 2d heloc. Mine had a BK on the note ($66K), but Wells needs to approve nonetheless. Per my negotiator, Wells typically wants to see 10% of the HELOC balance. I started with offering them $2000 from the 1st then made them tell me what they wanted, with ended up being $4000. We got it done with $2K Buyer contribution. Also, the 1st lien holder has their criteria of how much they'll allow to the 2d, typically $3K - $6K. Remember...don't ask, don't get.

I agree with Katherine. I actually have one with a Wells HELCO as a second with Wells Home as a first. First told me to put 10% on the HUD-1 for the second.

Usually you can get them to settle for $3000 - $5000 as a second.  

I always try to negotiate both at the same time.

Beth -


I just closed TWO different transactions this week with Wells HELOCS on both.  When I started the first transaction, the Wells negotiator asked if I had any other files he could help with and when I gave him the loan # of the 2nd file, he got it assigned to him as well.

The first file settled for 10% of UPB to Wells HELOC which was roughly $5,000.

The second file was a Full payoff to the First (also Wells) and about a 13% payoff to the Wells HELOC.


You will get 30 days to close and there will be no extensions.  Make sure you do everything the exact way they want and make absolutely sure the Sellers and Buyers sign everything - NO Digital Signatures. 


Communication was good (not "great") and they got done. 

Best of luck,

Thom Colby

Newport Beach and Palm Desert CA

The WF HELOC division may be the easiest short sale dept. ever worked with, fast, easy, approachable...if I could take them all day long, I would be a happy girl! Good luck!

GREAT to know, Melissa!!  Last stage of a WF HELOC.  Bless it all !



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