What’s The Best Approach To Negotiate Deficiencies With Wells Fargo?
Hi, I’m John Sellers here with ForeclosureSlayer.com. We’re Southern Oregon’s main short sale team. I wish to share some excellent news with you about Wells Fargo on their approval process. We’ve had good luck currently dealing with them. They’re utilizing Equator now, and they actually have a -step process. Step one is finishing all the necessary paperwork. At that point, it goes to the negotiator.
We not too long ago had a property that went through the whole course of, we listed the home, had it bought in a bit over every week, and in about 56 days we had a full approval on it and the deficiency waived. Also, the seller is getting $three,000 to assist with moving costs.
Wells Fargo stated they will notify the main credit bureaus to mirror account paid in full for lower than full balance. This could appear on the credit report within 60 to ninety days. Now in many conditions you’d have a look at that and see paid in full, less than agreed. That may sometimes mean they are not going after the deficiency. Nonetheless, of their approval they said they reserved the right to go after the deficiency. We went back and negotiated with them, and we got them to come back very quickly and alter it.
So the great thing about this case is we had been capable of get this approval in less than 45 days, we additionally were capable of get the deficiency waived, and get the seller $three,000 to assist move. This wasn’t part of a government program; it’s what we negotiated for them.
So, if you’d like to seek out out more information about short sales, you can go to our web site at ForeclosureSlayer.com or you possibly can all the time give us a call. Once more, we’re Southern Oregon’s leading short sale team and we’d be completely happy to speak with you. Thank you.
For more information on short sales and how to avoid foreclosure, visit the Foreclosure Slayer blog or you can also contact the John Sellers team and get started today.
