Hi Bryant. I trust you had a great start to your week. I'm hoping you can help with a Wells Fargo issue that we've been dealing with for over six months now. We've submitted an FHA Short Sale to Wells Fargo going on the 5th time now and have been getting no help whatsoever. I've completed several short sales with Wells in the past and this is by far the worst. There were problems with WF communicating what additional docs they needed through Equator... since we never received the request and no one ever told us over the phone when we would call in ever 3rd day... they cancelled the SS.
Is there any email or phone# that we can call to escallate this case? Seller is disabled and needs to sell asap due to income & inability to function in the current home and it seems that WF could care less. Any advice is greatly appreciated. Thanks In Advance! Reggie
Good point, we noticed that paragraph showing up on multiple lender letters. We just send them a 'notice of non-responsibility' as it pertains to the document collection and disbursement of those documents and information as we are just involved as a collection point and make no effort to verify the accuracy or validity of any documents provided. And that by continuing the short sale the servicer, investor and short sale processing company agree to this notice of non-resposibility.
Then we add that to their 'library' of forms (equator) or fax with a cc coversheet for our records. No file has been rejected as of yet!
I am new to this forum and new to Short Sales. I've taken a couple of classes but don't have any hands on experience...so I'm jumping in, cautiously.
Someone very dear to me wants and needs to sell their home. Mr. Seller has been unemployed and under-employed for the last four years resulting in stress related illnesses.
Mrs Seller was "downsized" when her employer was bought by another company three years ago. They have exhausted their savings and retirement and are in their early 40's.
They have 3 growing young boys under the age of 7.
I've had the house listed for 3 months this year and 6 months last year. They are underwater and were going to need to bring money to the table to close. All that money is gone now and the comps in the area are
decreasing the value almost monthly as more foreclosures are in the mix.
I'm thinking it would be the wisest move to enlist a third party negotiator to make sure they're taken care of properly. Do the negotiators handle EVERYTHING..will I be able to learn
along the way, or do they want me to step aside? The owners want me to be active with it because they said they only trust me and they've heard "horror stories".
Any guidance and step-by-step input is welcome and appreciated. . Thanks in advance.
Well Bryan, I am moving in 2 weeks and I now will be missing payments, as my pristine credit and lack of missed payments resulted in the BOA denying my short sale, even though I had a cash buyer who offered exactly what the house is worth. There goes my credit, but my mother will have me near her to help!
Have ever heard of, or worked with a company called IMPAC? I represent the Buyer and the Sellers lender is with BofA. It seems like the loan has been sold? or assigned to IMPAC and IMPAC seems to be playing Asset Manager/Investor/Loan Modification Company and charging these outrageous fees for their services to the Bank, Realtor and trying to force my Buyer into originating a new loan with them. Can you shed some light on this company?
Bryant, Thanks for starting such a wonderful group that delivers great synergy and knowledge. When I think of the fun in short sales and the cohesion that others can bring I know my head source. Say hello to that charming and beautiful wife of yours from me and Lars.
Thanks for this generous offering. I have thoroughly enjoyed our blog posts and love your style. Not to mention the learning that comes along the way.
Keep up the fantastic work! It's realtors like you that make it worthwhile.
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