Hello and thanks for coming to SoldByShortSale.com, Pennsylvania and Delaware’s leading short sale specialist. I’m excited to share with you this short sale update from Wells Fargo. If you have a Wells Fargo mortgage and you’re considering a short sale, I wanted to let you know that they’re now doing a streamlined short sale process where they’re now requiring a lot less documentation.

We just got the update yesterday and basically what they shared with us is that when we have a homeowner that is behind on their mortgage, needs to complete a short sale and meets certain requirements such as job relocation, job loss, divorce, death in the family, any kind of legitimate hardship, they are no longer required substantial short sale packages. In other words, once we submit an offer on your home, as long as you have a certain credit score, are delinquent on your mortgage and have a legitimate hardship, they may no longer collect other documents. We’re excited that Wells Fargo is starting to understand the importance of streamlining the short sale package. When I look at the average short sale package before submitting them to the lenders, those packages are usually between 75-100 pages of documentation. The new Wells Fargo streamlined short sale may make our short sale packages only 15-20 pages, not including the agreement of sale.

We’re excited about this and know that there are several people that we can help out immediately. If you have a loan with Wells Fargo and think that you may need to complete a short sale, I want to encourage you to please give us a call to discuss your current situation. We can see if a short sale is right for you; visit SoldByShortSale.com, click on the upper right hand corner for more information or just give us a call. We look forward to hearing from you soon and helping you with your short sale.