Your loan may be eligible for a Short Sale workout with Wachovia. THERE IS NO COST OR OBLIGATION TO YOU FOR THIS SERVICE - my fees and your closing costs are paid by Wachovia.

Wachovia currently has the most aggressive program to help homeowners avoid foreclosure. I met with the Ventura, Santa Barbara, and Los Angeles counties’ Wachovia Short Sale Manager and she provided me valuable information into its short sale process. Wachovia Bank has been a portfolio lender, which facilitates the short sale process easier. There is no investor to get approval from, thus no third party rules to follow. There is currently approximately $111 billion in the Wachovia portfolio, with 27% – 29% of those being 60+ days delinquent.

What sets Wachovia different from any lender is the approval timeline. Wachovia’s response time to short sale applications is 7 – 10 business days from submission. This is great news, considering most lenders take anywhere from 45 – 90+ days to even get an initial response.

Here is how the Short Sale process with Wachovia

ü I obtain the listing agreement from the homeowner

ü I contact the local Short Sale Manager as soon as I get the listing

ü The Short Sale Manager notates in the Wachovia system that the property is listed and I put a notation in the MLS system that it is a “Wachovia Short Sale”

ü The Short Sale Manager conducts a “pre-contract” interview with the seller, if necessary

ü Once I obtain an offer, I send the HUD and a ratified contract to the Wachovia local Short Sale Manager

ü I then receive approval with a minimum net to Wachovia

ü I obtain a settlement or approval letter from junior lien holders, if any

ü And then we close in 45 days or less

One other huge difference is that we do not have to send Wachovia your tax records, W-2’s, paystubs, bank statements, financial statements, hardship letter, etc. However, you must be prepared to talk about those items when the local Wachovia Short Sale Manager meets with you. In most cases, you are not required to provide them and cash incentives may even be offered. Wachovia’s goal is to treat the short sale process as friendly as possible.

YOU ARE NOT ALONE. Contact me today for a FREE confidential Short Sale consultation, so I can help you get on the road to a FRESH START!