Public Notice: Wachovia Encouraging Short Sales
September 22nd, 2009 categories: Seller Resource, Short Sales
Sonoma County Wachovia Short Sales
If you are a homeowner with a Wachovia, World Savings or Golden West loan and are upside-down in your equity…Pay close attention. You may like what you hear.
Wachovia’s current “industry leading” campaign helps troubled homeowners. Wachovia found that approximately half of their portfolio loans are in California. In light of this Wachovia has established a local Short Sale Department here in California, particularly the Northern California Region.
What does this mean for you?
If you are a homeowner with a Wachovia or Wachovia affiliate loan that is upside down in your equity and have contemplated a Short Sale…This may be an option that could be worth your while.
You can work with a lender that “gets it” and will actually respond to your Short Sale offer in a timely manner
- You get a professional local partner to help facilitate a smooth close
- You get a 30-45 day lender approval to close your transaction, and unlike other Short Sale lenders… (see our last post Short Sales AKA “Long Sales”? )
What are some Seller benefits of a Short Sale?
- Sellers may apply for a mortgage in 2 years vs. 5 to 7 years with a foreclosure (check with your tax attorney)
- Loss of 80 points with a Short Sale vs. 300 with foreclosure (approx. FICO figures only)
- Avoid “Foreclosure” on your credit report
If you have a Wachovia, World Savings or Golden West loan call today for a complimentary consultation. We are trained in the processing and closing of Short Sales with a successful Short Sales closing track record.
If you or anyone you know is upside down on their mortgage and would like to consider a Short Sale as an option call me directly at: 707-771-0338.
