Tysons Corner Short Sale / Dunn Loring Short Sale
Simon Hahn Group is listing this beautiful 3 BR, 2.5.5 BA townhome in Tysons Corner (Dunn Loring), VA. This home shouldn't last too long so contact us if you want to see this home. It's priced at $570,000.
Contact us if you have any questions concerning this short sale or if you're thinking about listing your home as a short sale.
Simon Hahn - Tysons Corner/ Dunn Loring, VA Short Sale Specialist
703-662-1466
Currently Bank of America and GMAC employ Equator.com platform to facilitate their short sales. Soon, Wells Fargo will be using Equator as well starting with their investor loans. This post is actually more for agents or negotiators versus borrowers. Here's a GMAC Equator manual you can download for reference. GMAC Equator Manual for Agents
Although Bank of America and GMAC use equator, process for these banks are different. With Bank of America, the negotiator/agent initiates the short sale. With GMAC, you wait until GMAC initiates for you.
So far Bank of America has been noticeably quicker with approval process with Equator. GMAC has always been relatively quick compared to other banks. Anyway, this post was for agents/negotiator so I hope you find this post helpful.
Contact us if you have any questions concerning short sale with Bank of America, Wells Fargo, GMAC or any other bank.
Hahn Group
703-662-1466
Is your mortgage Wachovia Pick a Payment Plan? If so and you are experiencing a financial hardship, you can get your short sale approved in matter of days. When Wachovia bought World Savings, Wachovia inherited World Savings' Pick a Payment Mortgage portfolio. Basically it works very similar to Countrywide's (Bank of America now) Option Arm payment. As you know, Wells Fargo bought Wachovia last year and now Wells Fargo owns Pick A Payment mortgages. Since it's been sold twice, Wells Fargo is very motivated to unload these mortgages if the borrower is experiencing financial hardship. These short sales can be approved in matter of days. I was talking to one of the Wachovia / Wells Fargo short sale field specialist who has seen short sales close within 37 days from the date of contract. Not 37 days for approval but 37 days from contract to closing. I'm seeing continual improvement in short sale process all across the board. If your mortgage is with Wachovia / Wells Fargo, contact me and I can discuss your options. I can even have a Wachovia / Wells Fargo represented discuss the short sale with you.
Simon Hahn - Keller Williams Realty
Wachovia & Wells Fargo Short Sale Specialist
703-662-1466
Here's a Wells Fargo Home Equity short sale approval. It took 38 days. The first trust on this bank was also Wells Fargo and I posted the approval here. Although you may have both loans with Wells Fargo, the two loans essentially act like separate banks.
Virginia, Maryland, Washington DC short sale specialist Wells Fargo Home Equity Short Sale 703-662-1466
Simon Hahn - Keller Williams Realty
I'm going to call April the National Short Sale Approval month. This is like the 10th short sale approval this month. Let me say generally that the banks are making improvements particularly Bank of America. I must admit that Equator system is improving Bank of America short sale system.
Anyway, here's another Wells Fargo short sale approval. This would be the fourth Wells Fargo approval this month.
Hardship: Bought second home and rent does not cover mortgage
Approval Period: 34 calender days.
Amount Forgiven: Over 100k+
Missed Payments: No
Bank asked for seller contribution at closing.
Simon Hahn - Keller Williams Realty
Virginia, Maryland, Washington DC short sale specialist
703-662-1466
I had 2 Wells Fargo short sales approved last week so I thought I share them with you. You can look at other Wells Fargo short sale info here.
People ask the following questions all the time. Do you have to miss a payment to do a short sale? The answer is it depends. It depends on the bank and the situation. You need to have a clear hardship. These 2 short sales were approved with the sellers being current on their mortgage. If you don't miss a payment, you can buy another home right away. With Wells Fargo, you don't have to miss a payment in order to qualify for a short sale.
Here's 2 letters.
Hardship: Loss of job
Approval Period: 35 days. You see that the contract was dated on3/8 and we got the approval on 4/15. I personally handled the negotiation. I generally don't like to take over the negotiations but I do so time to time. From now on, I plan to negotiate Wells Fargo short sale with one loan. If you have Wells Fargo mortgage and you're looking into a short sale, call me at 703-662-1466 or contact me via email.
Amount Forgiven: 6 figures.
Notice that the bank asked the owner to bring $3,900 to closing.
Here's another Wells Fargo short sale approved without sellers missing a payment.
Hardship: Loss of Job
Approval Period: 80 days. This was negotiated through a short sale attorney group. While they got this approved, it took probably 30 extra days in my opinion. From now on, I plan to negotiate Wells Fargo short sales on my own as long as there's only 1 loan.
Amount Forgiven: ~$50,000
Simon Hahn - Keller Williams Realty
Experienced Short Sale Realtor with Plenty of Wells Fargo Short Sales.
703-662-1466
Simon Hahn Group is listing a short sale in Lucketts, VA in Loudoun County. The bank involved is Wells Fargo. We have done many Wells Fargo short sales. You can take a look at Wells Fargo information here. Contact us if you want to see this home.
14319 NAUTICAL JIVE DR
LEESBURG, VA 20176
Simon Hahn - Lucketts, VA (Leesburg) Short Sales Specialist
We specialize in short sales in Lucketts, VA (Loudoun County).
703-662-1466
Simon Hahn Group is listing a short sale in Vienna, VA in Fairfax County. The bank involved is Wells Fargo. We have done many Wells Fargo short sales. You can take a look at Wells Fargo informationhere. Contact us if you want to see this home.
Simon Hahn - Vienna, VA (Fairfax County) Short Sales Specialist / Expert / Agent / Realtor
703-662-1466
How long does Wells Fargo take to approve their short sales? According to their official guide, about 45 days. Most of my Wells Fargo short sales have taken about 2 months or less. I blogged about this last year.
The contract date is 2/3/10 and the approval date is 2/24/10. So it took 3 weeks for approval. Many banks can actually get the short sale approved in few weeks but the key is preparing all the documents in advance and getting the right negotiator on the bank's end. Keep in mind that Wells Fargo has separate fax number for third party authorization and short sale package. If you don't know this, this can delay the process. I believe I have done now over dozen or so short sales with Wells Fargo and I must say that Wells Fargo is definitely one of the top banks to work with in terms of short sales.
If your mortgage is with Wells Fargo / Wachovia and you are considering doing a short sale short, give me a call at 703-662-1466. I know the process inside out.
Simon Hahn - Keller Williams Realty Wells Fargo / Wachovia Short Sales Specialist 703-662-1466
Bank: Wells Fargo, PNC Mortgage (Formally National City) Listing Agent: Listing agent has been doing short sales since 2007. Listing agent is CDPE (Certified Distressed Property Expert) who specializes in short sales. Simon Hahn - Keller Williams Realty Alexandria Short Sales Specialist 703-662-1466 If you're considering a short sale in City of Alexandria or anywhere in VA, MD and DC, give us a call. We are Alexandira Short Sales Specialist. We have also done over many Wells Fargo and PNC Mortgage (National City Mortgage) short sale. When it comes to short sales, experience matters! You can look at all our listing here. As you can see, we do plenty of short sales.Simon Hahn Group is listing a short sale in City of Alexandria.
