So I have gotten to the point where I have closed so many Sacramento short sales, I figured I would share my experiences with different lenders. The last short sale lender profile I did was for Bank of America. I figured this time I would profile a lender at the opposite end of the spectrum: Wachovia.
Let me just tell you - if you are a Sacramento buyer or seller dealing with Wachovia Bank on a short sale, you have stumbled upon the golden goose!
Wachovia has one of the smoothest short sale approval processes I have witnessed. They actually have a local representative that personally meets with the short sale seller and the listing agent, who personally views the property, and issues short sale approval in a short time - usually within 3-5 days. Wachovia commonly offers the sellers incentives to move out and leave the property in good condition. Ocasionally a Wachovia short sale can be "conditionally" approved before it is listed in MLS. The seller generally does not have to supply much financial documentation - rather the seller must be prepared to discuss their financial / hardship situation with the local rep during their in-person meeting.
I would post the local Wachovia short sale rep's name, telephone number, and email address, however since I have her direct contact information, I am going to refrain from posting it so that she does not receive an onslaught of communication.
Click here if you are thinking about doing a short sale of your home. Click here if you are thinking about buying a short sale home.
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