Wells Fargo has been one of the easiest banks to work with on Short Sales.  They are a bank, so they still have red tape, longer wait times, etc, but they are by far one of the best banks to work with - hands down!

Go directly to the banks website:  Wells Fargo Short Sale information.

In Jacksonville, FL we have a large percentage of home owners under water on their existing mortgages....about 46% to be a little more precise.  With such a large number of loans upside down, we deal with Wells Fargo on a daily basis.

Wells Fargo goes 1 step further to be better on Short Sales:

The Brad Officer real estate team was recently given a Wells Fargo Short Sale "Field Rep" to help manage our volume of short sales.  This rep is available to us when we need a helping hand at the corporate level.  Let me tell you, this has been great! 

Wells Fargo refers failed Loan Modification clients to our Real Estate Team for Short Sales:

At the end of 2009, Wells Fargo contacting us about a pilot program.  The program is for home owners who attempt a loan modification with Wells Fargo and then get denied.  Under certain circumstances, the home owner needs to sell their house, so Wells Fargo refers the owners to several local agents.  We were selected to be one of those agents.  Thank you Wells Fargo!

One little hiccup with Wells: As a home owner, you may have originated your loan with Wells Fargo, be paying Wells Fargo, and think they hold your mortgage.  However, sometimes they have sold off the loan to an investor.  When going through the short sale process with Wells Fargo, you should ask who owns your mortgage.  Wells will still be easier to work with than most of the banks, but if the mortgage is actually owned by an investor, Wells hands are tied as we must comply with the actual investor.

Posted by Brad Officer on
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