Wells Fargo Short Sale Process
We are Certified Wells Fargo Short
Sale Agents | Wells Fargo Short Sale Agent with over 20 years of Real Estate Experience.
We have already Helped Many Good Down to Earth People Get Out of Their UnderWater Homes ...FREE and CLEAR.
Certified, Licensed, and Approved Short Sale Agents for Wells Fargo Short Sale Homes. We Work Hard For
As a Short Sale Agent with Keller Williams
we promise to do our Best to Short Sale your Wells Fargo House - Hassle Free.
We would love the opportunity to earn your business. Results may vary. Previous
results are not indicative of your results. Not every Home owner will qualify for a Wells Fargo Short Sale or some of the
benefits previously received by our clients.
The Wells Fargo Short
Wells Fargo short sale process is by far superior to most banks and only averages about 3 months from list
to close. We keep everyone engaged (seller, buyer’s agent, buyer) with weekly updates via email. Throughout the
whole short sale process Wells Fargo keeps the status with updates up to the minute with the online portal. Wells Fargo
Short Sale also allows you to utilize the portal for seconds and HELOCs, streamlining the entire short sale process. Many
of previous Wells Fargo short sale clients can attest, it is typically a smooth and painless process to complete
a short sale. If you have any questions regarding the Wells Fargo short sale process please call us
or email us at Info@johnSandMikeV.com.
Wells Fargo Short Sale Application
Call (818) 478-1600
Behind on Payments...OK
Current on Payments...OK
Short Sale Agent Pros
Wells Fargo Short Sale
What is a Short Sale?
A short sale is the process by
which a homeowner can sell a house for less money than actually owed on the Loan(s) Balance.
2) How much does a Wells Fargo
Short Sale Agent Cost ?
our Services to you FREE. The Lender pays our Commissions. We have Successfully
Negotiated No Closing Closts for All of our previous Wells Fargo Short
Sale clients and don't expect that to change with any of our future clients. All of our Clients have Walked Away from
their Short Sale FREE and CLEAR and
the majority walked away with Absolutely NO CASH out of Pocket!
3) How Do we Qualify* For Free Wells Fargo Short Sale Agent Assistance?
Hardship – There is a situation
causing you to have trouble pay your mortgage.
Shortfall – “You have more Monthly Expenses than Monthly Income.” A lender will want to see
that you cannot afford, or soon will not be able to afford your mortgage.
– The lender will want to see that you do not have significant liquid assets that would allow you to pay down
*Can We Qualify
for Wells Fargo Short Sale without a Financial Hardship? More and more often, the short
sale is approved. A hardship isn’t always necessary as the bank would often prefer to do strategic short sale than take
it back and sell it for less later. Please SEE our page on strategic short sale.
4) What are some examples of Homeowner Hardships in a Wells Fargo Short Sale?
A reduction in income through the loss of a job, disability, illness, or just the
straight reduction in hours that a causes the inability to continue to make payments.
– Separations and divorces are legitimate reasons a lender will consider a short sale.
in expenses – Reasons could include an increase in dependents, an illness, etc.
in debts – credit cards bills, medical bills, legal fees and other similar types of debt.
– Death of a family member who was a contributing factor in keeping the mortgage current. Also the corresponding loss
of income or medical bills associated with the death such as funeral expenses, etc.
job – The relocation should be due to a job change.
Military service – There are some lenders that will accept being called into
military service as an acceptable hardship.
Is there a possibility you could still do
a Wells Fargo short sale without an actual hardship? Yes it is possible. This is what
is known as a Strategic Short Sale. A strategic short sale occurs when there is no hardship and the owner could continue to pay their mortgage. They consider
just “walking away” but do not want to suffer the consequences of a Strategic Default (foreclosure). If it makes financial sense to the lender they may still consider a short sale where there is no hardship.
In this case Wells Fargo may ask you for a cash contribution. SEE our page on Strategic Short Sale
5) Can I Short Sale My Wells
Fargo Loan (House)?
The Home's Market Value Has Dropped. Comparable sales must substantiate that
the home is worth less than the unpaid balance due the lender.
6) What is the Affect of a Foreclosure on my Credit Score?
A Foreclosure on your credit report
can take 7-10 yearsto remove and can cost your credit rating
(FICO) up to 200-280 points which is a very big hit.
7) What is the Affect of a Wells Fargo Short Sale on my Credit Score?
The credit consequences of a short sale vary slightly. Clients
have informed us that a short sale will show up on your credit report as a 'settlement', 'settlement for
less than owed' or a "pre-foreclosure in redemption". A
short sale credit score can drop by 50-100 points.
There is no way to predict exactly how a bank of
america short sale is going to affect your credit for it. We've
had some clients who have mentioned that they’ve been able to rebuild their post short
sale credit score in as little as 12 months. Other people who have not maitained
their credit with other items, well, it’s probably going to take a little bit longer in order to rebuild their credit.
8) What are The Tax Implications
of a Wells Fargo Short Sale?
The Mortgage Debt Relief Act of 2007 generally
allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced
through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.
This provision applies to debt forgiven in calendar
years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married
filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other
reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.
information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see
IRS news release IR-2008-17. Ask your accountant to utilize Form 982 with your Return.
* You should speak to your accountant to determine the amount of short sale tax
consequences, if any.
What if I am Current on my Wells Fargo Payments can I still Short Sale my house?
YES. Many of our clients have had their Bank of America
Short Sale Home listed while they were current on their payments. They were one step ahead of the pack.
of My Home is very close to happening. Is There enough Time to Short Sale my Wells Fargo Home?
YES. The foreclosing party—in most cases a lender—can
stall a foreclosure up to the final day of the process. Today, many lenders will stall a foreclosure with as little as a phone
call from your short sale agent explaining that you are trying to sell, and almost all lenders will stall a foreclosure
with a legitimate contract. For real estate professionals who understand foreclosures and short sales, there is time available
until the foreclosure process is complete.
11) What is the typical Wells Fargo Short Sale Process?
Seller signs a listing agreement
with a Wells Fargo Short Sale Agent.
A Buyer submits an offer to your Short Sale Agent.
Seller accepts the buyer's purchase offer.
Bank of America accepts the buyer's purchase offer.
Transaction closes, the Wells Fargo releases the lien.
12) Does Everybody have to know that we are Listing our Home as a Short Sale?
NO. As professional short sale agents, we do
our best to respect your confidentiality and privacy. Our Sign will be displayed in the same exact way our Standard Sale signs
are. Our Marketing to the general public Will Not indicate anywhere that your home is a Wells Fargo
Short Sale. However, the one place short sale agents are obligated to designate your home as a Short Sale is our
Only other Real Estate Agents should
have access to this information. It is understandable to have reservations about letting the world know that you owe more
on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in
the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and
finding a professional who can work with you toward a solution.
recent estimates showing 40-60% of U.S. sales will be short sales or foreclosures, you
are not alone.
Fargo Short Sales are Impossible to do and take forever, is that true?
Are they impossible? Absolutely Not. We have a Very High Success rate
in receiving Wells Fargo Short Sale Approvals. As a matter of fact our success rate is 98+% with Wells
Fargo Short Sales. Do Short Sales take longer than Standard Sales? Probably. But depending on how many loans are on the property
we expect anywhere from 60-120 days Maximum.
The Market is really slow. Are Buyers interested in Short Sale Properties?
Don't Worry! In fact, we and other short sale agents are getting calls from buyers who say
they only want to look at foreclosure and short sales. We expect multiple offers on your home within 10 days.
For buyers, short sales and foreclosures have become synonymous with “good
deals.” More specifically, international buyers are targeting these properties. Listing with an experienced agent who
is educated in the short sale process will provide you with a great chance of quickly seeing a contract on your property.
15) Short Sale
My Wells Fargo Home or do a Loan Modification?
It Depends. The Facts show that only 10% of Loan Modifications
get Approved by their Lenders and of the 10% approved, Homeowners were not happy with the small amount of change in their
payments. But if your lender lowers your payment significantly, you are happy with your home, future maintenance & repair
costs are affordable, and you feel that the home will appreciate back to it's loan balance then a loan modification is a good
option for you.
However, The great majority of homeowners
are now opting to Short Sale their home for the following reasons:
They are not with happy
with the depreciation and drop in value of their home
The potential repair and maintenance costs may put them right back into Default. (50% of Loan Modifications
Default within 1 year)
and expenses will still be a struggle after the slightly reduced payments
They Just want to move forward with their lives and start life
They wish to put their money
towards a worthwhile investment, not a bad asset.
16) Should I Short Sale
My Wells Fargo Home or file Bankruptcy?
It Depends. This is usually called The Option of Last Resort. As far as your Home is concerned
a Bankruptcy usually just delays the inevitable. But it may be a good option
depending on your financial condition and willingness to damage your credit for up to 7 years. A Bankruptcy
typically also costs thousands of dollars to initiate.
Chapter 13 bankruptcy lets you pay off the late or unpaid payments over the length
of a repayment plan you propose--3-5 years in some cases. But you'll need enough income to at least meet your current mortgage
payment at the same time you're paying off the late or unpaid payments.
7 bankruptcy will stall the foreclosure sale and give you two or three more months to work things out with your lender.
Chapter 7 bankruptcy gets rid of your personal liability under the promissory note, but it doesn't remove the lien. Chapter
7 gets rid of debt but not liens--you'll still probably have to give up the house under the lien since that's what provided
collateral for the loan.
A study done by the American Bar Association indicated that 96 percent of the
people who filed for bankruptcy protection ended up in foreclosure anyway. Many people feel that bankruptcy will
stop foreclosure and save their home. However, because it entails that you continue to pay your mortgage (Chapter 7) or that
you consolidate all of your debt while still paying your mortgage (Chapter 13) it is usually not a long term solution.
With a Wells Fargo Short Sale
their are NO Costs to initiate and typically do Not have any Cash out of pocket costs.
A Short Sale damages your credit score less and takes a lot shorter time to rebuild your credit from 1 - 2 years. But
a Short Sale will not relieve other financial debts.
I Short Sale My Wells Fargo Home or Let it go to Foreclosure?
Foreclosure is The Absolute Worst Option a Homeowner can choose. A Foreclosure can Damage your Credit for up to 10 years, and can lower
your Credit Score up to 250 points. Your are continuously hassled by phone calls, letters, and door knockers with Notices
of Default and Notices of Sale. Eventually there is a day of Reckoning. The Sheriffs show up
to your door and you and your family are Evicted from your own home in plain sight of the entire neighborhood.
A Short Sale typically Costs you Nothing, you get to stay in your home during
the short sale process, and sometimes Bank of America will offer Cash Move-Out Assistance for your
cooperation. You Sell your home with your acceptance, under your terms. The Home is Marketed by us like a Standard
Sale and you get to leave your home and Neighborhood with Dignity.
18) How Do I Short
Sale My Wells Fargo Loan?
Contact us for a FREE Consultation. Call our Short Sale Agents or fill out contact the form provided
on this page. The Consultation is Free, All our Services are Free (The Lender Pays us), we do all the negotiations for you
with only you best interests in mind. With many years of Wells Fargo Short Sale experience, you can rest assured that you
have Certified Short Sale Agents that will deliver a smooth, hassle free process.
19) How do I Start the Wells Fargo Short Sale Process?
Contact us for a FREE Consultation. Call our Short Sale Agents or fill out contact form provided on this
page. The Consultation is Free, All our Services are Free (The Lender Pays us), we do all the negotiations for you with only
you best interests in mind. With many years of Wells Fargo Short Sale experience you can rest assured that you have
Short Sale Experts that will deliver a smooth, hassle free process.
The information presented in this website
is for informational purposes only and should not be construed to be formal advice. Please consult a tax accountant and attorney
before making any decisions regarding your house, for legal advice, financial advice, or it's tax implications. This site is neither endorsed, nor sponsored by, nor affiliated with the Wells Fargo Corporation.
Wells Fargo Short Sale Specialist,
Agent, Realtor For Sellers
your home, a Wells Fargo Short Sale Agent can give you up-to-date information on what is happening in the marketplace
and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold
at a price that the Wells Fargo Short Sale Negotiator will accept, quickly and with minimum hassle.
A Wells Fargo Short Sale Agent / Realtor can market your property
to other real estate agents and the public.. In many markets across the country, over 50% of real estate sales are cooperative
sales; that is, a real estate agent other than yours brings in the buyer.
Wells Fargo Short Sale Agents, act as the marketing coordinator, disbursing information about your
property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses
for agents, etc. The Realtor Code of Ethics requires Bank of America Short Sale Agents / Realtors to utilize these cooperative
relationships when they benefit their clients.
FargoShort Sale Realtors know when, where and how to advertise your property. There is a misconception that advertising
sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of
agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with
the help of your Realtor, you do not have to allow strangers into your home. John and Mike, Short Sale Agent / Realtor, will
prescreen and accompany qualified prospects through your property.
A Wells FargoShort Sale Specialist can help you objectively evaluate every buyer's proposal without
compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections
and financing -- a lot of possible pitfalls. Your Wells Fargo Short Sale Agent can help you write win-win agreement that will
be more likely to make it through the short sale process.
Wells Fargo Short Sale Agents can help close the sale of your home. Between the initial sales agreement
and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud
in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your Short Sale Realtor is the
best person to objectively help you resolve these issues and move the transaction to closing (or settlement).
Wells Fargo Short Sale Agent, Realtor,
Specialist For Buyers
1) Wells Fargo Short Sale Agents, can help you determine your buying
power -- that is, your financial reserves plus your borrowing capacity. If you give a Wells Fargo Short Sale Agent some basic
information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help
you. Most lenders -- banks and mortgage companies -- offer limited choices.
2) Wells Fargo Short Sale Realtors, have many resources to assist you in your home search. Sometimes
the property you are seeking is available but not actively advertised in the market, and it will take some investigation by
your agent to find all available properties.
A Wells Fargo Short Sale Agent can assist you in the selection process by providing objective information
about each property. Wells Fargo Short Sale Specialists who are Realtors have access to a variety of informational resources. Wells
Fargo Short Sale Realtors can provide local community information on utilities, zoning. schools, etc. There are two things
you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property
have resale value when I am ready to sell?
Fargo Short Sale Specialists can help you negotiate. There are myriad negotiating factors, including but not
limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or
equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations
of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections
are recommended or required.
5) A Wells
Fargo Short Sale Realtor can provide due diligence during the evaluation of the property. Depending on the area and
property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and
well tests, just to name a few. Short Sale Realtors can assist you in finding qualified responsible professionals to do most
of these investigations and provide you with written reports. You will also want to see a preliminary report on the title
of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access.
The title to most properties will have some limitations; for example, easements (access rights) for utilities. John and Mike
Wells Fargo Short Sale Agent title company or attorney can help you resolve issues that might cause problems at a later date.
6) A Wells Fargo Short Sale Agent
can help you in understanding different financing options and in identifying qualified lenders. Short Sale Realtors can
guide you through the closing process and make sure everything flows together smoothly.
Why is Short Sale with Wells Fargo The Preferred Option of Homeowners?
It STOPS The Foreclosure Process. Opportunity to Sell your home at NO
COST to you, and even get move-out Cash assistance in most cases. Banks do not
want to foreclose on your property because
the foreclosure process is incredibly costly. Wells Fargo Short Sale Executives have publicly stated that if a person is qualified
for a short sale, and utilizes the services of a certified Wells Fargo short sale agent, the process needs to be considered.
Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.
A Short Sale with Wells
Fargo Mortgage is a sale of real estate in which the proceeds from the sale of a house falls short of the balance owed on
the property's loan. The lender decides that selling the property at a loss is better than pressing the borrower. Both parties
consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit reports for the borrowers. This agreement most often releases
the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.
CA Licensed, Listing Agents, Certified
Wells Fargo Short Sale Agents, Certified REO Agents, and Buyers Agents. They are Company Wide Top Producers,
Five star rated in client satisfaction and combine for over 20 years experience and Backed by the substantial resources and
support of Prudential CAlifornia Realty .
Wells Fargo Short Sale Agentsl
Call: (818) 478-1600
John Scillitani, CDPE,
SFR, Broker Associate, is a Graduate of Rutgers University with Dual Bachelors Degrees in Industrial Engineering
and Economics. Licensed since 2002, His experience ranges from Being an Automotive General Manager to the Real Estate Business
with both The Luxury Market and First Time Buyers. He has extensive Knowledge as a short sale agent and with Bankowned Homes.
John was born in Brooklyn, NY and raised on Long Island, NY.
1) Listing Agent, CA Licensed Realtors
2) Short Sales Agents, Certified by CA Association of Realtors
Buyers Agent, CA Licensed Realtors
4) First Time Buyers, CA Licensed Realtors
5) REO - Bank Owned Homes
Certifications & Awards:
1) Certified Short
Sale Agents, CA Association of Realtors
Wide Top Producers
3) Five Star Agents for Client Satisfaction
4) Licensed California Real Estate Broker
Certified Distressed Property Experts
6) Trulia "Pros"
7) Zillow.com All-Stars
8) Licensed California
Short Sale Experience. Short Sale Certified, Approved, and Licensed. Recognized as one of the
top Short Sale and Foreclosure Prevention Teams in the nation, We have been asked to speak at many short sale symposiums
and short sale forums! We have successfully listed and Short Sold properties as Bank of America Short Sale
Agents, Chase Short Sale Agent, CitiBank, GMAC Agent, NationStar Short Sale Agent, PNC Short Sale, Wachovia, and
Wells Fargo Short Sale Agents. We will Negotiate
with the bank on your behalf and have been very successful in protecting our Sellers interests including:
Future Home Buying Credit
Protecting Retirement Accounts
Eliminating Tax Liabilities
Eliminating Deficiency Judgements.
this at NO COST to you! Fill out form and Find out More!
Please Call us for a NO CHARGE, Confidential
Consultation, and if you Qualify for a Short Sale, Selling Expenses, Move Out Expense, and our Services in
most cases, will be paid for by the Bank! Please Do Not Pay for any Services that may be
available to you at NO CHARGE!
Why will a Short Sale Work?
not want to foreclose on your property because the foreclosure process
is incredibly costly. Bank of America, CountryWide, Wells Fargo, Wachovia, Washington Mutual, and even the
federal government have all publicly stated that if a person is qualified for a short sale, the process needs to be considered.
Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.
Short Sale Agents with The CDPE,
Certified Distressed Property Expert Designation have trained extensively to understand the solutions,
and effective methods for dealing with homeowners facing the hardship of foreclosure. Don't risk your financial future and
the potential sale of your home with a short sale agent who does not have the training, experience, or tools to best help
your needs, Contact Us with Form Above for prompt and caring assistance.
Short Sale Agent and Foreclosures —
The New “Traditional” Transaction For many short sale agent professionals, short sales and foreclosures are the
new “traditional” real estate transaction. Knowing how to help sellers maneuver the complexities of short sales
as well as help buyers pursue short sale and foreclosure opportunities are not merely good skills to have in today’s
market—they are critical functions of a short sale agent. And while short sales and foreclosures are not for the faint
of heart, short sale agents with the proper tools and training can use these specialty areas to build their business for the
Go It Alone — Choose an SFR Trained Professional
Designed for short sale agents,
the National Association of REALTORS® (NAR) Short Sale Agent and Foreclosure Resource certification,
or SFR for short, is a Comprehensive approach. NAR’s SFR certification is the
only one of its kind that focuses on both the buyer and seller sides of distressed property transactions.
In conclusion, Short Sale Agents with the CDPE
and SFR Designations have been trained in all aspects of the distressed property / short sale process,
and know how to deal with the parties involved in foreclosures. Finding a CDPE can explain what options you have,
and get you on the path to recovery.
our Team Lead John Scillitani, Broker Associate, CDPE, SFR, Wells Short Sale
Agent for Free Advice.
Certified Distressed Property Experts fully understand that selling your house, can save
your family life, and save your future buying ability.
We are Certified Wells Fargo Short Sale Agents in the San Fernando Valley. And
also Wells Fargo Short Sale Agent servicing Los Angeles County and The San Gabriel Valley. Licensed
California Short Sale Agents.