If so, you are in the prime position for a Wachovia “streamlined” short sale.
Sam Bedros, our local Wachovia short sale negotiator, held a “Short Sale” seminar at the North Bay Association of Realtors last week. Here’s so what he had to say;
All short sales, at any bank, must first go through the eligibility process for a HAFA (Housing Affordability Foreclosure Alternative) short sale. Once eligibility for HAFA is determined, a seller can decide if they are better off with a HAFA short sale of a Wachovia short sale. Some of the differences to consider are as follows;
- Wachovia may offer you up to $5000 at close of escrow for moving expenses, etc… HAFA will pay the seller $3000 in move-out money.
- HAFA will only pay a junior lien holder $6000.00 to settle the short sale, where-as Wachovia will pay up to 20% of the 2nd loan’s balance.
- HAFA will postpone the foreclosure of a home for 180 days with an active listing (if not less than 10 days from the sale date) Wachovia will only postpone a foreclosure date upon receipt of an accepted offer, and a commitment letter from the buyer’s lender.
So, what makes Wachovia’s short sale process so successful?? Continue reading Was your home loan, now serviced by Wells Fargo, previously with World Savings…or Wachovia??
THIS EVENT IS SOLD OUT!!! However, you can contribute to firefighter Hakala’s recovery by going to any Exchange Bank and asking a teller to transfer a donation to the fund set up in his name. Organized by Bodega Volunteer Fire, Sonoma County Fire and Emergency Services….and our friends at CalFire. This event is selling out fast. They are expecting a full house of 650 people at the Santa Rosa Vets Building. Proving, once again, what a great place we live, where people from all walks of life come together for a common cause.
Ben Hakala is the firefighter who was severely injured in the Bodega fire on September 25th when he accidentally came in contact with a downed power line.
Hakala is a volunteer for Bodega as well as a seasonal firefighter for CalFire,
Listen in on Sunday for more information from CalFire….Thanks!