Comment

Comment by Kim Eisen on August 16, 2012 at 9:37am

@Jason - did you check the approval letter to see if it had both loan #'s on it?

My 1st/2nd approvals were on one approval letter.  Just a thought.

Comment by Jason on August 16, 2012 at 9:18am

I'm the buyer on a home theat has a Wells 1st and 2nd a approval was issued on the 1st that expired this week and we still have no recieved approval on the 2nd. Being told that the investor and MI must approve a updated letter to extend the 1st and still no word on the 2nd. How is it that Wells didnt issue a approval on the 2nd knowing the first was already approved?

Comment by Camille Roberts on August 15, 2012 at 8:23am

I just love my short sale superstar partners. You guys all rock out there. You help me out in so many ways. I did a WF short sale with a divorce such as this and it seems that the more I submitted for documentation, the better for me and my sellers. Since I had not done one in this status before, such as the one below, I really did not know what to do for sure, and disclosed all and more that was requested. It did seem to suffice and the Bank was able to accept the divorce papers and deed change to close.Thanks

Comment by Mike Horton on August 14, 2012 at 8:19am

Thom and Jim - I am closing on SS this week with WF as the first where the parties are divorced. One spouse was given the house and declared financially response by the judge for the note. I have filed the divorce papers and deed change with WF. They have accepted that and the other spouse was not required to provide financial information.

Comment by Vicky Rhodes on August 14, 2012 at 7:50am

What is the norm to receive ATP for FHA SS?

Comment by Pattilynn Guilford on August 14, 2012 at 7:25am

Try just using the owner of record's financials. If the spouse not living in the home is insolvent or unemployed, they could provide a no financial stmt, no paystub form.

Comment by Pattilynn Guilford on August 14, 2012 at 7:05am

The banks are requiring HAFA homeowners to be late on payments. Perhaps, just being late after the grace period but well before the 30 delinquent would suffice?

Comment by Jim Crawford on August 14, 2012 at 7:02am

Thank you Thom and Chris,

Does she have to be behind on her payments?

Comment by Chris McGee on August 14, 2012 at 6:27am

If it's HAFA, Supplemental Directive 09-09 states if the property was awarded to the ex-spouse in the divorce decree the financials of the other ex-spouse are not required.  I sent a copy of the divorce decree, the quit claim deed, the SD, and escalated above the front line rep who is not familiar with the SD's and got it through.

Comment by Thom Colby CA Brkr 888-391-5245 on August 14, 2012 at 6:13am

@Jim - if both wife and ex-husband are on the loan, they will both have to provide financial info - even if, the divorce decree states she got the house a court cannot remove an individual from the obligation to the lender.  That said, she has a hardship and should move forward with the short sale.  If WF wants the ex's info and he won't provide it - then that's what is told to WF.

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