Baltimore Short Sale

Wells Fargo, and  their impeccable short sale process

Are you having a hard time figuring out what your next step after several missed mortgage payments would be? Wells Fargo is a highly called on short sale specialist because of their ability to process the short sale efficiently and their excellent communication with the homeowner. They have the highest rating of approvals because of their dynamic intellect and superb experience. Wells Fargo short sales is combined with an assembly of dedicated and hardworking individuals.

When you first hear the words “short sale” it kind of makes sense, but kind of sounds like there could be more to the title. A short sale is for a qualified homeowner who has found themselves so far behind on mortgage payments they have reached a distressed state in their home and are now on the verge of a foreclosure.  A short sale means a lender will be willing to accept an amount less then what the property was once worth because of value on the home decreasing due to debt built on the residence.  Short sales have become a prime solution to most cases of homeowner’s in dire need of a way out from under commitment they can no longer hold on to due to financial difficulties. When applying, there will be Wells Fargo short sale requirements.

Every lender who becomes aware of the fact a short sale could be in the making, will want to know all the facts. They want to know that you are in desperate need of help and not trying to freely and falsely jump out of a very important responsibility.  They will ask you what problems have aroused and why it put you in this predicament. Hardships do happen and it isn’t a secret or much of a surprise in today’s economy.

There are lots of “issues” that happen in everyone’s lives but at as a homeowner those issues tend to affect more. When trying to qualify for a Wells Fargo short sale, the hardship will most likely have to do with the following: A drastic reduction in income because of disability, job loss, divorces and the expenses that come with it and/or one of the two refusing to
continue to participate in their portion of the bills, death of a family member who was a contributor to any housing costs, and also natural disasters such as hurricanes, flooding, and tornados.

When you are ready to talk to your lender about whatever your hardship may be, they are going to require a typed hardship letter stating the reasoning behind not being able to continue to hold on to your home. Upon typing the document, there isn’t a need to hide anything. Explaining in detail all of the present financial difficulties will only benefit you more. Alongside your hardship letter you will need one month of bank statements proving money was not being spent an anything that would have irrelevance to needing a short sale. One month of your most recent pay stub(s), along with tax returns (and W-2) from the previous year. You will also need a financial statement which will provide your expenses, savings and gross to show you are not capable of paying for your home. On all of the above documents be sure to include your loan number.

A program called HAFA, which is short for Home Affordable Alternative Program, can offer $3,000.00 towards your relocation. To learn more about this service and how to qualify click here: HAFA program guidelines .

Make sure to keep all documents together in an orderly fashion. The list of documents is: Hardship letter, last three months of bank statements, one full month of pay stubs, the previous year’s tax returns with W-2’s and your financial statement. If you are not able to provide all of the above documents then you may write a letter explaining which should be signed and dated and sent in with the package. If you need help getting your short sale package together, please click on the highlighted link. You will not have to pay for short sale services; they are 100% free to you! A short sale specialist will guide you through the procedure it will take to find a buyer for your home and work together with Wells Fargo. If you think a Wells Fargo short sale is right for then contact one now!