If I'm going anywhere to obtain answers to overcome objections in short sale situations it's Short Sale Superstars!. I'm confident that there's someone out there who can assist. My company handles association-owned short sales where the condo or HOA has foreclosed on the unit owner for non-payment of maintenance fees. On behalf of the association as Owner of Record we negotiate short sale settlements with the borrower's lender(s) to release the lien. While we've had tremendous success with the majority of lending instiutions (both those that own the loan and others that service them on behalf of Fannie Mae and Freddie Mac) we've been unable to get approval on Wells Fargo loans backed by Freddie Mac. Since this is the only lender that objects I have to believe that it's a Wells Fargo thing not a Freddie Mac guideline restriction. Is there anyone you know higher up in Wells Fargo who can assist? I understand that it only takes the "right" person to get it done; however, trying to find that one special person in a position of authority who can think outside the box is like looking for a needle in a haystack. Feel free to contact me directly via phone (954) 600-8339 or email Amanda@HomesbyAmanda.com if desired. Thank you!
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Comments
They contend the association is responsible for paying off the mortgage in entirety if they foreclose on the borrower.
What reason has Wells Fargo given for not providing an Approval? Who else have you contacted at Wells Fargo and/or Freddie Mac regarding?