We're Wachovia Fast Track Short Sale Experts
The Foreclosure Prevention Group
at Better Homes & Gardens Real Estate has been trained to process Fast Track Short Sales, and now offers
homeowners, lenders and buyers the assistance necessary to
streamline the short sale process and get these transactions approved
within traditional time lines.
Wells Fargo and Wachovia recently unveiled their new “Fast Track” short sale program developed for home owners with loans from World Savings, World FSB, Golden West Financial and of course Wachovia and Wells Fargo. This new short sale program has been streamlined to enable fast and easy processing, and can provide relief for Bay Area home owners who are having trouble making their mortgage payments, or who are upside down in their mortgage debt. The “Fast Track” program offers many advantages compared to a normal short sale or foreclosure, as follows:
- No Hardship letter is required.
- Tax Returns are not necessary in order to qualify.
- If one is employed, paystubs are not required.
- Wachovia is committed to a 7 Day approval process.
- The “Fast Track” program provides for pre-approved short sales which allow the property to be sold for a higher price and in a quicker time frame.
- This program also offers possible “Cash for Cooperation” of up to $2,500.
- Home owner does not need to be late on their mortgage payments.
- Credit report may have just a slight derogatory due to this Fast Track short sale, and report will only show “settled for less than owed”.
- All Wachovia deficiencies will be forgiven.
Bay Area counties have been hit hard by the real estate crash that started in 2007. In some areas, home values have dropped by over 60% since the peak in pricing in 2006. It is estimated that there are over 7,000 home owners in Bay Area counties with mortgage loans with one of the above mentioned banks. Recent reports have also shown that over 30% of California home owners owe more in mortgage debt than their home is worth, which means that over 2,000 property owners could benefit from this new “Fast Track” program.
For more information about the Wachovia Fast Track short sale program, feel free to call us at: 510-684-4055, or email at: info@bayareaforeclosurestop.com
