There is at least two differnt process at wells for conventional loans. There are allow packages submitted prior to 4/5/10 and all Hafa approved packages submitted after 4/5/10. Hafa approved packages I am thinking there are not many people who have received a approval and closing, since the hafa program starts with the listing of the property.
I do have listings at the very early stages of getting hafa approval at wells but no accepted offers yet. In addition I do not think the banks are organized to close these transactions in 10 days even if everything has been processed right.
First Weber Group
Certified Distressed Property Expert
Can you provide more specific question where a professional can assist you? As with any lender the seller must submit a package be approved for a short sale it can take up to 45 days , and short sale could take another 30 days approve any sales offer.
We closed on a short sale home with Wells Fargo with no problem whatsoever. They did not counter back with a higher amount than we offered. They gave us 3.5 on closing costs also. The home that we purchased is a beautiful home and needed absolutely no work done to it. The process took approximately 3 months to complete due to the house having two mortgage loans. Wells Fargo being the senior loan and another bank being the junior loan holder. Gotta be able to wait out the process and it was well worth it.
I have submitted several offers to Wells Fargo since the rules changed. They are in about two weeks asking the buyer and seller to sign their addendums and once those returned they are stating in about a week what the bottom line is the bank will take.
Unfortunately, I have not made it past this point as they have each time (4) countered at 8 to 10 thousand above market value.