The one thing you can say about Wells
Fargo is they are detail oriented like no other lender I have ever
seen before. Every “I” must be dotted and every “t” crossed for the processing
department to release your file to loss mitigation. The Wells
Fargo West Sacramento Short Sale processing team are
tough, tough, tough. They want names under every signature, letters explaining
why someone who is unemployed has no pay stubs, and every name to match
exactly. If the buyer or seller used their middle initial on one signature and
not the others the file will be sent back and the list goes on and on.
Once you get to processing the
party’s just getting started. Of all the lenders we have worked with, Wells Fargo is the toughest on wanting an offer
that is as close to Fair Market Value as possible. On more than one occasion we
have been told that the only value that matters is the value they have in their
system.
Now, of course you know we don’t
take no for an answer but I have to admit, of the very few short
sales we have lost to foreclosure, one was over value. We and the
buyer’s appraiser thought the value was less that Wells did. Wells closed out
the file and foreclosed on the property. Guess what. 3 months later they sold
it as an REO for less than our offer – go figure. At least you have to give
them credit for sticking to their guidelines…
The good news with Wells
Fargo is, if you submit a clean near perfect package, sell the
property for what it is worth and follow through relentlessly you can expect to
have the West Sacramento Short Sale approved in 60-70
days. We average 62 days on our approvals with Wells. Pretty good all things
considered.
To get a better idea of when your West
Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info
for a free estimate or call me today for a free no obligation consultation or
for the latest West Sacramento short sale information. Call me today and sleep
better tonight; you’ll be glad you did
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