Wachovia and Wells Fargo Short Sales
Recently we had the opportunity to meet with the local short sale manager representing Wells Fargo and Wachovia. As a result, we have been invited to partner in their exciting new Short Sale Fast Track Program.
Wachovia and Wells Fargo has taken the lead and is setting the standard for the processing of short sales. By streamlining the system, the approval time frame is drastically reduced and many of the cumbersome tasks have been eliminated. We all have heard of the short sale nightmares experienced by our family, friends and neighbors.
Now you can qualify for a short sale with Wachovia without having missed a single payment. Most lenders will not even talk short sale until the borrower is 2-3 payments behind. Because of this, your credit is spared and you may be able to purchase another home in just one year! Wachovia also alleviates some of the moving hardship by offering their primary residents up to $5,000 in cash to assist with these expenses.
Wachovia’s Fast Track Program has eliminated the burden of providing tax returns, bank statements, pay stubs, etc. Up until now, the joke has been that it requires more paperwork to get out of your mortgage than it did to get into it. The hardship will be reviewed through a single phone call with a short sale manager. Wachovia is dedicated to an acceptance period of 7 days or less. With an acceptance, your Property can be marketed as a short sale with a pre-approved price and will be more enticing to potential buyers. Once a contract is in place, closing will take place in 45 days or less.
Another excellent benefit of the Wachovia Short Sale Fast Track Program is that your outstanding deficiency is forgiven. Wachovia will report to the credit bureaus as debt settled for less than owed after the short sale is complete. This is one of the least damaging reports that can be added.
Your monthly mortgage payment no longer has to be a source of stress and anxiety. Please give us a call today to further discuss the program and how it can benefit you and your family.