Short Sale Approval Received in 26 Days from Well Fargo Home Mortgage!

By
Real Estate Broker Owner with Mint Properties, Tni LeBlanc (805) 878-9879 CalBRE #01871795
http://actvra.in/7T8

Short Sale Approval Received in 26 Days from Well Fargo Home Mortgage!

I just received short sale approval from Wells Fargo in 26 days!  It was a total of twenty six days from when the short sale application was submitted to the lender until I received the short sale approval letter in my email box.  So much is written about the bad short sales - the ones that drag on for months at a time - that I thought I should remind potential short sale sellers that not every short sale takes forever to be approved.  Many are approved in 30 - 45 days, and some lenders are even encouraging their distressed borrowers to apply for a short sale.

It should be noted that there are many factors that can affect how long your short sale will take to process, and, of course, short sale approval is not guaranteed.  That said, submitting a complete or near complete application at the outset will speed processing time.  For example, Wells Fargo Home Mortgage has forms that are specific to Wells Fargo that must be used in their short sale application package.  Including these forms at the beginning can improve processing time.  Also, promptly responding to requests for additional documentation and following up with calls to the lender can also play an important role.  An experienced short sale agent can help you put together a complete (and persuasive) short sale package.

If you are considering a short sale of your Santa Maria, Orcutt, Nipomo, or Arroyo Grande home, you should seek out an experienced and diligent short sale agent to guide you through this process.  There are many pitfalls that can be avoided with the right upfront advice.  If you would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950. 

Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent and Certified Distressed Property Expert (CDPE) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California. 

*Nothing in this article is intended to solicit listings currently under contract with another broker.  This article offers no legal or tax advice.  Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement.  Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

Copyright© 2011 Tni LeBlanc * Short Sale Approval Received in 26 Days from Well Fargo Home Mortgage!*

Posted by

Tni LeBlanc, Broker
(805) 878-9879 mobile/text

tni@mintprop.com
www.MintProp.com
CalBRE #01871795

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Topic:
ActiveRain Community
Location:
California Santa Barbara County
Groups:
Bartender, Make it a Double
LATE NIGHT - EARLY MORNING AT ACTIVERAIN
Realtors®
Short Sale REALTORS®
Short Sales Specialists
Tags:
wells fargo short sale
wachovia short sale

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Ambassador
1,803,535
Chris Ann Cleland
Associate Broker, Northern VA
Long & Foster REALTORS®, Gainesville, VA

This doesn't surprise me. I LOVE working with Wells Fargo.  Give them everything they need to process the sale and you can get a quick turnaround. Congrats.

April 07, 2011 04:17 PM
Rainmaker
385,462
Tni LeBlanc
JD, MA, REALTOR, CalBRE # 01871795
Mint Properties, Tni LeBlanc (805) 878-9879

Chris Ann - I know any lender who can process a short sale in under 30 days is ok in my book.  I would love to work on more Wells Fargo files.

April 07, 2011 05:02 PM
Rainmaker
314,298
Karen Feltman
Relocation Specialist
Cedar Rapids/Iowa City, IA Skogman Realty

I had a great experience with a short sale where both loans were with Wells Fargo as well.  I think that they are one of the better ones.  But you are right, your odds of getting things done quickly is by making sure that everything is completed before sending it in. 

April 07, 2011 10:02 PM
Rainmaker
385,462
Tni LeBlanc
JD, MA, REALTOR, CalBRE # 01871795
Mint Properties, Tni LeBlanc (805) 878-9879

Karen - I also think that they are one of the better ones.  They have at least outlined and published a reasonable timeline and their goal is to beat that timeline on every file.

April 08, 2011 08:39 AM
Rainmaker
342,029
Rodney Mason
FHA 203K, USDA, VA, HomePath Renovation Specialist
Prospect Mortgage

That's great.  My last one with them last year was 6 months,

April 09, 2011 09:34 AM
Anonymous
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Rainmaker
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Tni LeBlanc

JD, MA, REALTOR, CalBRE # 01871795
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