I am a sales agent representing a seller who has been disabled and unable to pay his mortgage payments on his property. We have had an offer in front of the Loss Mitigation/ Short Sale department since Oct. 11th. the loan was originally with GMAC and then sold to Wells Fargo. It is a good offer since the BPO came in for 15,000 under the offered price....We obtained an extension for settlement until this week....the buyer is going to walk since they need to be in a home before the holiday. Both the seller and myself have followed up with the short sale dept on a daily basis the servicing agent says he is waiting to hear from Wells Fargo...he had stated that this process would take 2 to 3 weeks from the original date....he now states that there is NOTHING that he can do nor myself or the seller to encourage Wells Fargo to be in communication with the seller to notify him wether or not this agreement will be accepted....in the big picture...the loss is for under 30,000 compared to the loss of 265 if this goes to shiriff sale.
It is abusive to the public that there is no workablity with the mortgage company.
If anyone knows of a way to be in contact with the Wells Fargo short sale department, I would love to hear from you.