West Sacramento Short Sale Information – Wells Fargo Short Sale Incentive’s to $30,000

Mike Rigley Certified Default Advocate, Distressed Property Expert and your short sale specialist here thank you for joining us.

Wells Fargo Short Sale Incentive’s to $30,000. You heard me right. Wells Fargo announced that they have sent out several thousand letters to home owners with old World Savings orWachovia Pick-A-Pay loans offering up to $30,000 as an incentive to complete a Wells Fargo Short Sale. Now don’t get confused. This is not for all Wells Fargo Short Sales or loans. It’s for select portfolio loans that were originally a World Savings or Wachovia loan, especially the Pick-a Pay loans.

So why would they do this you ask? Great question. Honestly for Wells Fargo to offer a large incentive to the homeowner to sell it has to make good business sense first. The old World Savings / Wachovia Pick-A-Pay loans were bad loans to begin with. Most should have never been made to the borrower but let’s face it, those loans were made at a time when lending guidelines were loose and it was the wild, wild west out there lending wise. Now Wells Fargo looks at them as a huge liability and their effort is to get rid of them as quickly as possible. Remember before the real estate market crash a default rate of 1-2% was considered high. At the peak of the crash banks were experiencing default rates in the area of 10% or better. Wells Fargo and all the other banks can’t really get back to “business as usual” until they get all the litigation and bad loans off the books. The Wells Fargo Short Sale incentive is just one more way to clear the books.

So how do you qualify for the Wells Fargo Short Sale incentive? First off, if you have one of these loans, open your mail! The offer may be sitting on your desk already. If you have not gotten a letter call me and I will be able to contact the Wells Fargo Short Sale department on your behalf to see if you qualify or not. Cal me lets find out.

Is a West Sacramento Short Sale Right for Me? Give me a call and let’s find out. We also offer a short sale lease back program for those who qualify allowing you to short sale and stay in your home. Call me for details

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.