Get the free Wachovia Short Sale Stategy

Lunch and Learn Bring your lunch to class! Short Sale Strategy By Wachovia Region Short Sale Manager Learn: Dates: Tuesday, June 30, 2009 1:00 2:00 p.m. How to get started with Wachovia Time: What

How to fill out wachovia short sale stategy

How to fill out a Wachovia Short Sale Strategy:

1. Gather all necessary documents: Before starting the Wachovia short sale process, it is important to collect all the required documents. This typically includes financial statements, tax returns, pay stubs, bank statements, hardship letter, and a purchase agreement.
2. Consult with a real estate agent or attorney: Seeking professional advice is crucial in navigating the Wachovia short sale process. A real estate agent or attorney experienced in handling short sales can guide you through the necessary paperwork and negotiations.
3. Complete the Wachovia short sale application: Wachovia, or now known as Wells Fargo, has specific application forms for short sales. Fill out the application thoroughly and accurately, making sure to include all requested information.
4. Prepare a hardship letter: A hardship letter explains to the lender why you need to sell your home through a short sale. It should detail the reasons behind your financial struggles, such as job loss, medical expenses, or divorce. Be honest and provide supporting documentation if available.
5. Provide financial documentation: Wachovia will require you to submit various financial documents to verify your current financial situation. These documents may include bank statements, tax returns, recent pay stubs, and a detailed list of assets and liabilities.
6. Obtain an appraisal or broker's price opinion: In order to determine the market value of your property, Wachovia may require an appraisal or a broker's price opinion. This valuation will help determine an appropriate sale price for your home.
7. Prepare a purchase agreement: Once you have found a buyer, work with your real estate agent or attorney to draft a comprehensive purchase agreement. Make sure to include any necessary contingencies, such as home inspections or financing approvals.
8. Submit all documentation to Wachovia: Once all the required paperwork is complete, submit your short sale package to Wachovia. Ensure that you have included all necessary forms, financial documents, and the purchase agreement.
9. Follow up and negotiate with the lender: After submitting the short sale package, maintain regular communication with Wachovia. They may request additional documentation or negotiations regarding the sale price. Be prepared to provide any requested information and work towards a mutually acceptable solution.

Who needs a Wachovia short sale strategy:

1. Homeowners facing financial hardship: Wachovia short sale strategy is designed for homeowners who are struggling financially and are unable to keep up with their mortgage payments. If you are unable to qualify for a loan modification or other foreclosure prevention options, a short sale may be a viable solution.
2. Homeowners with negative equity: If you owe more on your mortgage than your home is currently worth, a short sale can help you avoid foreclosure and minimize the impact on your credit. Wachovia's short sale strategy provides an avenue for these homeowners to sell their properties and settle their debts with the lender.
3. Real estate investors and buyers: Real estate investors and buyers looking for opportunities to purchase properties at a potentially lower price may be interested in Wachovia short sales. These buyers can benefit from acquiring properties at discounted prices, while helping distressed homeowners avoid foreclosure.

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What is wachovia short sale stategy?

Wachovia short sale stategy involves selling a property for less than what is owed on the mortgage, with approval from the lender.

Who is required to file wachovia short sale stategy?

Borrowers who are struggling to make mortgage payments and are at risk of foreclosure are required to consider filing a Wachovia short sale stategy.

How to fill out wachovia short sale stategy?

To fill out a Wachovia short sale stategy, borrowers must contact the lender, provide financial information, list the property for sale, and wait for approval from the lender.

What is the purpose of wachovia short sale stategy?

The purpose of Wachovia short sale stategy is to avoid foreclosure, settle the debt with the lender, and sell the property for less than what is owed on the mortgage.

What information must be reported on wachovia short sale stategy?

Information that must be reported on a Wachovia short sale stategy includes financial statements, hardship letter, listing agreement, purchase agreement, and closing statement.