Do You Recognize the Incompetent Lenders and Investors?

Westminster CO – Yes, Lenders are incompetent and so can be the investors, resulting in loss of funds! Why is that??

We had placed a short sale on the market 45 days from the foreclosure sale date. We had received a couple offers and was working one with Wells Fargo and we were successful in getting the sale date postponed 2 times.

Due to the incompetence of the Wells Fargo negotiators and loss mitigation/foreclosure depts, we lost both of those buyers. In the meantime, another cash offer came in at $160,000. Property was listed at $158,000.

During the process of this cash offer, Wells Fargo drug their feet in working this to the investor, and that investor was Fannie Mae, or we were told that!! We had this cash offer good up thru the end of September.
At the beginning of August, the cash offer was into Wells Fargo for three weeks at this point, we were able to postpone the foreclosure sale date another 30 days.


Get my Free, Step By Step Loan Modification Guide by clicking here.

Our third party processor had diligently worked getting an approval with Wells and FNMA. Wells kept asking for stupid things, like, "we need a lender letter" (remember, this is a cash offer and we provided proof of funds), or updated pay stubs and W-2's from our seller. The seller had been unemployed for 6 months and still was!

By the time September rolled around, we were pushing for another postponement of the foreclosure sale date. Needless to say, Wells Fargo did NOT work that and on sale date, said FNMA refused another postponement.

So, that listing went to foreclosure sale. Wells Fargo, FNMA, and the Seller lost a CASH BUYER at $160,000!!

View My VIDEO BLOG at www.youtube.com/watch?v=WH2xAwiRocE.

Eight months later, the property was placed on the market at a list price of $149,600. The owner ends up being Freddie Mac (Federal Home Loan Mortgage Company), NOT Fannie Mae as we were told! Makes one wonder what is going on with these Lenders!!

This property went under contract in 22 days, and closed at a price of $146,900 with a seller concession of $4,400, or a net price of $142,500.

YES, the investor had a LOSS in 8 months by not taking the earlier cash offer of $160,000, as a short pay-off!! Stupid business decision by them. OR, was it incompetence by Wells Fargo? Who knows at this point!! This is WHY, lenders and investor should NOT want to foreclose and either work a loan modification or a short sale!! DUMB, DUMB, and DUMB!

Thinking about a loan modification?Our Westminster loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at denverforeclosureblog@gmail.com to request a Free Copy.

Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at denverforeclosureblog@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 303-521-0984

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Dan Hopper.

View My VIDEO BLOG at www.youtube.com/watch?v=WH2xAwiRocE.

Dan is a Real Estate Agent at Remax Alliance. Westminster Short Sales Realtor:

Phone: 303-521-0984. denverforeclosureblog@gmail.com.


View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor. Arvada CO Loan Modification Help, Arvada CO Short Sales. Arvada CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.



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Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on How A Westminster Short Sale Helps Preserve Neighborhood Values is provided as a courtesy to our viewers to help them make informed decisions