Solving the Foreclosure Crisis One Homeowner at a Time...

Thanks for joining us as we talk about real estate items pertaining to the Phoenix Metro Area. There are alternatives to foreclosure. Let us help you. Foreclosure should always be your last resort. For more information on how to avoid foreclosure and a list of homes for sale, please visit our site at http://www.marydrefs.com/. Need to find or sell a house?? Call us at 623-694-0354.

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Tuesday, July 10, 2012

Short Sale Sellers-- Team Up with Your Agent and Take On Wells Fargo

We do a lot of short sales here in our office. At times, some lenders seem to change their short sale policies for the worse. Take Wells Fargo.... recently they decided to not waive borrower's deficiency in the majority of their short sale approval letters. Did Wells Fargo not consider that in state's with anti-deficiency statutes, this makes foreclosure more attractive to borrowers? If the same short sale was approved just 2 months ago, no doubt the deficiency would have been waived. Is that discrimination? Short sale borrowers should fight for their rights with Wells Fargo and prove to them what a inane blanket policy they instated. Borrowers will get quicker, better results if they call in to fight with Wells directly. Real Estate agents and other third parties have limited representation in the eyes of the lenders. Passionate borrowers seem to be getting the best results. Make sure when doing a short sale you participate with your agent and act as a team. Together with owners, we have been able to pull off remarkable fetes...such as gettting Wells Fargo to waive the deficiency on a recent short sale approval letter. We need the full participation of the borrowers to reach the ultimate success.

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