If you read my blog, you would know I have been saying the big step to take to correct our market is to approve Short Sales in less than 90 days. We have been hearing about the Pre-Approved Sort Sale for over a year now, finally we have something close. Thank YOU Wachovia for being part of the answer instead of the problem, most other banks are the problem.
You can’t do anything today without hearing about how ridiculous it is to get a Short Sale approved by a bank. Loan Modifications are a joke. They usually only give you a mod if you are current on your payments and you “qualify.” Their first round of Loan Modification found 80% of the borrowers in Foreclosure again, several months later. Short Sale is the answer for these people. It can be the best answer because the Short Sale seller can get back in the market to buy again in 1 to 3 years depending on the situation and their post Short Sale credit. We want that future demand for housing, penalizing people for bad timing on a purchase does no one good!
Wachovia is the leader n today’s Short Sale approval market. We can handle Wachovia’s Fast Track Short Sale Program. Wachovia understands the position this market has created for everyone. They are now offering homeowners, Realtors and buyers the assistance necessary to streamline the short sale process and approve Short Sales within reasonable time lines.
Wachovia has implemented their “streamlined” approval process called the Fast Track Short Sale program. They have assigned a local Loss Mitigation Manager with the authority to approval these transaction within a 7-10 period.
Here are some of the programs highlights:
- Must have financial hardship/in default on mortgage
- One local point of contact for homeowners, Realtors and buyers to submit offers to and facilitate the transaction
- Approvals in 7-10 days
- Average closing from start to finish: 48 business days
- $2500+ cash for cooperation/relocation expenses
- All Deficiency issues Waived
I look forward to this being a very successful program for Wachovia and hope all the other banks are watching and learning. It’s time to start treating people caught up in this financial melt down, caused by the banking system, like they are people and not criminals!
Do YOU have a Wachovia loan and have any questions about how this works or if you qualify? Call me NOW, Jeff Cameron 480-502-7699 or Email Now at Jeff@thecameronteam.com
We are Short Sale experts and can assist you, even if you don’t have a Wachovia loan.
480-652-2004