West Sacramento Short Sale Information - Wells Fargo / FHA Short Sale

Mike Rigley Certified Default Advocate, Distressed Property Expert and your short sale specialist here thank you for joining us. Today let’s talk about a recent Wells Fargo / FHA Short Sale we are involved in.

This is a particularly frustrating Short Sale for us. It is a NASTY divorce where Mr. Seller won’t cooperate short of a court order and Wells Fargo - the most anal retentive of all the banks, is the servicer and FHA is the investor. Talk about a perfect storm for frustration.

We have been working this short sale for months. After chasing paperwork from the reluctant Mr. Seller we finally received our Authorization to Participate (ATP) from FHA. Good news right? You would think so. We already had an offer that exceed FHA’s net requirement and all Wells Fargo had to do was approve the offer. After 30 plus days of promises and miss-information the negotiator at Wells Fargo finally admitted the file had been sitting with no one looking at it he whole time. Never mind the fact that we were getting twice weekly responses to our inquiries to the contrary.

Well you know we never take no for an answer so once we got to the truth we escalated the file to Wells Fargo senior management. Good news / bad news. The good news was we got the file moving forward. The bad news is we pissed off the negotiator and he started asking for redundant documents and closed the file for non-response within his unrealistically tight time frames. Normally we can make the unrealistic requests work but in this case where we had to get two different attorneys involved to get one form signed we couldn’t make it happen fast enough.

Now after Wells Fargo sitting on the file for better than 30 days with no activity we are having to escalate the file to Wells Fargo and directly to FHA. What a waste of our taxpayer dollars over the poor performance of one bitter Wells Fargo marginally competent employee.

Naturally being used to agents who roll over for this kind of (pardon my french) crap I am sure he did not think we would take our case directly to FHA /HUD or the consequences that go along with that type of exposure.

In the end, we will get the short sale approved in spite of our negotiator and we will save a family from foreclosure. It will just take us a little longer than normal. As they say – no hill too high for a climber

Is a West Sacramento Short Sale Right for Me?

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