Wells Fargo Short Sales

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Wells Fargo Short Sales

Group to discuss short sales with Wells Fargo and Wells Fargo Financial and share solutions to getting mortgage short sales approved.

Members: 907
Latest Activity: Mar 13

Find A Wells Fargo Short Sale Realtor

***The Report Below is for home owners in hardship who are wondering "How To Short Sale A Home". Confused real estate agents should go here.

 How To Short Sale A Home

Wells Fargo Short Sales

We have set up this forum to provide Wells Fargo Short Sale Information and offer short sale help to Wells Fargo borrowers and agents. Wells Fargo seems to be one of the more consistent lenders to work short sales with. There are several specific Addendums that are required with every Wells Fargo Short Salethat are included below. Those are the Wells Fargo Short Sale Arms Length Affidavit, the Wells Fargo Listing Addendum, Wells Fargo Contract Addendum and a Wells Fargo Contract Extension Addendum.

General Info:  866-234-8271 Fax:  866-359-1975 LM Dept:  866-903-1053 LM Fax:  866-837-9108  LM Fax: 866-590-8910  Home Equity Loan Dept:  866-275-9138 Home Equity Loan Dept2:  888-219-8014 Home Equity Short Sale Dept:  866-970-7821 Home Equity Short Sale Dept Fax:  866-593-3578
Mortgage Payoff Dept: 800-288-3212
Home Equity Payoff Dept:  866-810-1424
Payoff Dept Fax:  866-238-6874

 

Documents needed for a Wells Fargo Short Sale:

Wells Fargo Realtor Short Sale Guide |Wells Fargo Listing Agreement Addendum | Wells Fargo Arms Length Affadavit | Wells Fargo Contract Addendum | Wells Fargo Closing Date Extension | Wells Fargo Financial Hardship Worksheet

Wells Fargo Fast Track Short Sale Program - Wells Fargo is also implementing the Wachovia Short Sale Program to streamline the Short Sale Process. Sellers Can get money back for competing a short sale with Wells Fargo, in many cases $3,000 cash back with the HAFA Short Sale Programthrough Wells Fargo.

 

 

Do you qualify for a Wells Fargo Short Sale? There is no cost involved or out of pocket expense for borrowers in financial hardship to work with one of the top short sale agents in the country. The first step is to find a local Wells Fargo Short Sale Realtor - Visit www.Short-Sale-Specialists.com!

 

 

 

 

Share your experiences and strategies below with Wells Fargo Short Sales

 

Discussion Forum

Wells Fargo Short Sale Nightmare

Started by Fern Tzoucalis. Last reply by Fern Tzoucalis Mar 2. 6 Replies

I am the selling agent for my son on a WF short sale.  Under contract 6/21/13, 8/15 told file in line to be reviewed by negotiator, 8/22 appraisal ordered (which came in $2000 over our offer), 9/26…Continue

Old World Savings Loans - Now Wells Fargo

Started by Angie Freeman. Last reply by Sharon Molnar Oct 9, 2013. 1 Reply

Trying to reach out for assistance.  Has anyone dealt with the Wells Fargo 512 clients division?  Apparently, they handle the old World Savings loans that are now being serviced by Wells Fargo.  I…Continue

Short Sale Questions on the Equator Counteroffer from Wells Fargo Bank

Started by Hunter W.. Last reply by Brett Goldsmith Aug 8, 2013. 1 Reply

Short sale offer of $185k made by buyer.This counteroffer just received from Wells Fargo through Equator Workstation.What will the bank accept from the buyer?If there is mold remediation needed to be…Continue

Wells Fargo Escalation Stalled

Started by Peggie Simmons. Last reply by Peggie Simmons Jun 18, 2013. 2 Replies

We have a Wells Fargo Short Sale that is Stalled. Negotiator has Countered Several Times approximately $50,000 higher than the Sold Comps! Balance owed to Wells is Far Less than wherethe Counter is…Continue

How to find a Wf short sale field manager

Started by Janice Wheeler. Last reply by Rozalyn Franklin Apr 24, 2013. 3 Replies

 I am trying to find a WF short sale field manager for the Sacramento Region. I have a bizarre short sale. WF is having problems with it. The person died, and now it's in the hands of a successor…Continue

Who can I talk to above the liquidation team leader?

Started by Michelle Abbass. Last reply by Joe Beauchamp Apr 18, 2013. 4 Replies

My clients sent in the Approval to Participate form with our first offer on their home.  Apparently it got lost in the mail because WF says they never received it.  So they closed out the file and we…Continue

Tags: participate, escelate, to, approval, fargo

First time WF short sale, but it's going to be strange

Started by Janice Wheeler. Last reply by Joe Beauchamp Apr 10, 2013. 5 Replies

I do many short sales each year. My specialties is short sales, probate/estate, pre-1930 homes.Right now I have a short sale of a condo, my seller inherited the property from his mother. The loan is…Continue

Need management level contact with WF Short Sale Department

Started by Deborah Powers Apr 8, 2013. 0 Replies

Does anyone have a management level contact at WF.  Major issues with a short sale.  Please email me privately at debofaz01@gmail.com  Thanks.Continue

Wells Fargo as investor will not do a short sale during redemption period???

Started by Susan Morimoto. Last reply by Susan Morimoto Feb 19, 2013. 2 Replies

I am working on a short sale with Citi, the investor is Wells-Fargo, and Citi is telling me thatthe investor will not allow a short sale in the redemption period. I triedcalling Wells directly since…Continue

IF IT WAS OK THE 1st TIME, THEN DO IT AGAIN

Started by Steven Pawera. Last reply by TOP END Properties Jan 5, 2013. 6 Replies

I received 2 new tasks in Equator, (Supply Listing Info & Enter Marketing Plan). I opened the task to confirm it wasn't simply the task name being recycled: these were identical tasks to the last…Continue

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You need to be a member of Wells Fargo Short Sales to add comments!

Comment by Celeste O'Dea on March 1, 2014 at 11:29pm

Does WF require any specific forms for a VA Compromise Sale?

Comment by Christina Henley on August 5, 2013 at 6:55pm

it sounds like a fannie owned loan being serviced by wells fargo.  they made the same request from me about the date the seller signed the contract instead of the date the contract became "fully executed". 

i heard fannie mae started a real estate company---you know---besides auction.com.  anybody heard this???  that would make sense.  then they could also save 3 - 6% in the future wnen they sell it.  and since it is the government and they constantly say one thing and do another it wont mean much that they voted banks out of real estate.  fannie is not a bank...

Comment by Cyndi Carver on August 5, 2013 at 6:35pm

Christina, they didn't like that the buyer dated their acceptance of a counter, above where the seller's date was. I had to make the buyer's agent to have the buyer move it to the left side of the initial far away from where the seller dated the contract on the bottom of the contract. They also wanted their Short Sale Affidavit date of contract dated not the date the contract was written but when the contract was signed by the seller. Their people are not contract lawyers, just arbitrarily change dates to match where they think it should be.

When I replied to them in Equator that the buyer rejects their counteroffer, they don't give you an option to put in what they want to counter and the next message I received was that the transaction was removed from Equator and I would not able to submit another short sale on Equator again. That's it. No getting to the supervisor. Nothing. 

Comment by Christina Henley on August 5, 2013 at 6:06pm

had a file i have worked with homeowner for three years. finally thought we had it at 114000 which is FULL FMV and fannie countered at 178000! of course submitted the homeopath dispute. wf cancelled file in equator and called the client and offered her DIL now that i negotiated the second and got that settled for them. i told the seller do it. 3 years. nothing. i am seriously considering not taking GSE short sales. i just do not see them willing to accept reasonable value since they started forming their own llc's and purchasing their foreclosed proeprties at auction in those llcs i believe they are figuring a new value. (what they can buy it at auction for + rent for 2 yrs. + what they will sell it for at that time. projected value of course but they are bullish on the market since they are setting it! they may even be including being able to sell the judgements to a collection agency in states like fl) this value vs short sale. they counter at that number. if they get it now. great. if they don't get it. foreclose. it is obviously working for them since they just posted record profit 2nd quarter in a row. and freddie posted 2nd highest since their creation.

Comment by Wendy Smith on August 5, 2013 at 5:46pm

I agree with Thom.  In Florida we continue to have lots of short sales and I believe SS will be around for quite some time.  Recently however, it is apparent that we Realtors are simply doing to data collection from (usually) delinquent borrowers as we don't find out the inflated or exaggerated value until AFTER we have collected all the financial info from the borrower... Not only do we collect it but we also upload to Equator thereby saving the banks that hassle too.  

Slick move on their part.  

Though I find helping homeowners to be extremely gratifying I cannot continue to work without being paid - when Fannie & Freddie inflate values to the point of making a short sale impossible - well, we all know how that story ends:  the Realtor doesn't get a dime.  In Florida, we are not allowed to accept fees in advance (attorneys can but not Realtors).

So, dear colleagues, where does that leave us?  Refer these sellers to an attorney?  Most sellers I deal with have no funds for an attorney.  

Suggest bankruptcy?   Not take Fannie & Freddie listings?  Tell the servicer THEY have to collect the documents and financial info from the borrower as we no longer provide such services (actually I like this idea but we ALL would have to be on board)?  

How is everyone else handling this situation?  Surely you guys cannot continue to work for free either!  I think I will go look through my files and see if any of my recent closings were Fannie or Freddie... maybe it's worse than I thought.

Comment by Thom Colby 888-391-5245 on August 5, 2013 at 4:13pm

Janet - I don't disagree that WF has been pretty good to deal with in the past. But, in my market (Orange County CA) Short Sales are very much becoming a thing of the distant past. Today alone, there are over 5,000 ACTIVE listings in Orange County. Of those, only 186 are "distressed" (Short, NOD, REO, etc.). Why work on short sales when we can get paid quicker on Standard Sales. 7 Years of nothing but short sales has been enough for me. Best of luck!

Comment by Janet Fuller CDPE, HRC, ABR on August 5, 2013 at 3:59pm

I don't agree Thom - Wells Fargo has been the easiest of all major lenders approving short sales- I had WF approve a deal in 2 weeks.  I believe that we need to stay on negotiator and yes, go to investor - fannie mae on the homepath site to dispute value, or freddie mac directly if the value is truly wrong

Comment by Christina Henley on August 5, 2013 at 3:31pm

why did they ask for the dates to be changed???

BOA gets bashed in the news constantly.  i cannot for the life of me figure out how wells fargo avoids it cuz they are the worst!!!

Comment by Cyndi Carver on August 5, 2013 at 3:26pm

I am pretty much agreeing with you on this. I knew they had tactics when they started to tell me at the beginning how to write the purchase and sale agreement. Asking the dates of the mutual acceptance to be changed, etc.

Comment by Thom Colby 888-391-5245 on August 5, 2013 at 3:05pm

Cyndi - Walk-Away.... you really have to determine if this "fight" is worth your time, effort and the anxiety associated with it.  Short Sales are becoming even more difficult than 7 years ago when they first began.

 

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Discussion Forum

Wells Fargo Short Sale Nightmare

Started by Fern Tzoucalis. Last reply by Fern Tzoucalis Mar 2. 6 Replies

Old World Savings Loans - Now Wells Fargo

Started by Angie Freeman. Last reply by Sharon Molnar Oct 9, 2013. 1 Reply

Wells Fargo Escalation Stalled

Started by Peggie Simmons. Last reply by Peggie Simmons Jun 18, 2013. 2 Replies

How to find a Wf short sale field manager

Started by Janice Wheeler. Last reply by Rozalyn Franklin Apr 24, 2013. 3 Replies

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