Wachovia Bank has set up a streamline process for their short sales. They are taking the lead in creating this process for homeowners with Wachovia loans on their homes in order to stop the amount of foreclosures. 7-10 day approval: For some Wachovia homeowners, they are being offered up to $5,000 for relocation costs, If a Wachovia borrower has exhausted all other options, including a loan modification the fast track program is a viable option.
The time frame that was quoted to me after listing your home and getting a qualified buyer to purchase your home is approximately 7 days, and an average of 45 days to close depending on if there is just Wachovia as the first lien holder and if there is a junior lien involved as well.
Process for a Wachovia Short Sale Approval
1. End the Stress!!! Obtain Listing Agreement with Endeavor Real Estate
2. We will Contact your Local Short Sale Manager as soon as listing is obtained
3. Endeavor Real Estate will notate in Wachovia system that the property is listed in the MLS "Wachovia Short Sale "
4. Endeavor Real Estate will conduct a "pre-contract " interview with you the Seller
5. Send HUD and ratified contract to local Short Sale Manager via email, once received
6. Receive Approval or Minimum "NET " required from Wachovia within 7-10 days!
7. Obtain settlement letter from any junior lien holder(s)
8. Close ESCROW in 45 Days or Less!
Once it is determined a true hardship exists, Endeavor Real Estate will work directly with the Wachovia Short Sale Department to help you the homeowner reach a timely agreement. We have a direct line of communication with the Short Sale negotiator in the area and can get approval in as little as 7-10 days.
World Savings and Goldenwest adopted similar programs. If your mortgage is with any of these companies
Call 562.945.0317 to end the stress
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