- Report: #778004
Complaint Review: Wells Fargo Loss Mitigation Department - Fort Mill South Carolina
Reported By:
John **** Realtor -
Glendale, California, USA
Submitted:
Updated:
-
Author Not Confirmed
Why?
Wells Fargo Loss Mitigation Department
3476 Stateview Blvd. Fort Mill, 29715 South Carolina, United States of America
Phone:
866-903-1053
Web:
www.wellsfargo.com
Categories:
Business Rating:
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Wells Fargo Loss Mitigation Department All their employees Forclosed on a property with $120,000 offer to sell it at trustee action for $103,000 Fort Mill, South Carolina
For the last 1 1/2 years myself and my coworker had been handling a short sale. We have jumped through hundreds of hoops to get this deal on. Our client was upside down to the tune of $349,000 on their 4 plex. Unable to make payments we listed it with comparable units for $134,000. We had an offer of $120,000 which was accepted by the bank after 6 months of waiting for paperwork to be processed. The buyer had a heart attack on the day of closing and was never heard from again. We immediately contracted another buyer with $120,000.00 all cash offer on 8-3-2011. The property sold for $103,000 on 9-14-2011. Here is the reply email we finally received from Wells Fargo after submitting all the requested paperwork for the new buyer and the sellers up to date financials;
Unfortunately, a short sale option is no longer able to be continued at his time due to the expirations of the foreclosure timeline. The sales date for the file is set for 9/14/2011 and without investor approval on the offer we are not able to request for a postponement. Therefore, we do not have the time to try and complete a short sale prior to the foreclosuresale date.Even though the processor did everything they to get the file moved as quickly as possible to,we simply have run out of time. Please notify all parties the property will go to foreclosure sale on 9/14/2011.Please let me know if you have any questions. Thanks!
Laura NelsonLoan Adjustor
Loss Mitigation
Wells Fargo Home Mortgage | 3476 Stateview Blvd | Fort Mill, SC 29715
MAC X7801-01K
Tel 866-903-1053 | Fax 877-677-5789
[email protected]
Office Hours 8:00am - 5:00pm EST
Unfortunately, a short sale option is no longer able to be continued at his time due to the expirations of the foreclosure timeline. The sales date for the file is set for 9/14/2011 and without investor approval on the offer we are not able to request for a postponement. Therefore, we do not have the time to try and complete a short sale prior to the foreclosuresale date.Even though the processor did everything they to get the file moved as quickly as possible to,we simply have run out of time. Please notify all parties the property will go to foreclosure sale on 9/14/2011.Please let me know if you have any questions. Thanks!
Laura NelsonLoan Adjustor
Loss Mitigation
Wells Fargo Home Mortgage | 3476 Stateview Blvd | Fort Mill, SC 29715
MAC X7801-01K
Tel 866-903-1053 | Fax 877-677-5789
[email protected]
Office Hours 8:00am - 5:00pm EST
1 Updates & Rebuttals
Dave
USAWells Fargo vs Invester
#2Consumer Comment
Sun, September 18, 2011
Here's something you need to know. Wells Fargo may be servicing the loan but if the invester does not give them the approval to complete a short sale they can not go against it.
I would bet the invester was either Fannie Mae or Freddie Mac.
I don't work for Wells Fargo but I do work for a bank in loss mitigation.
