Old Town Alexandria Short Sales |
Wachovia Short Sale Fast Program Track Cuts The Wait For Old Town Homeowner Facing Foreclosure
Old Town Alexandria homeowners facing foreclosure can get faster help if they have a mortgage with Wachovia. We've just completed another successful short sale, this time with Wachovia Mortgage. Wachovia has recently introduced its Short Sale Fast Track program which significantly reduces the dreaded 'wait period' that comes with buying a short sale.
I commend Wachovia for being a frontrunner in changing the way that they process short sales. As as short sale listing agent, one of the hardest parts of the transaction is keeping the buyer interested while other homes come and go on the market. It's tough for the anxious seller to wait for a response as well, because they need to make plans for finding another home.
With a streamlined approach, the Wachovia Short Sale Fast Track program has distinct advantages that other banks do not offer including:
- the homeowner/borrower does not have to be late on the mortgage to be considered for the program
- may offer up to $2500 to the homeowner
- less documentation than what is typically required, only the listing agreement, purchase contract, and preliminary HUD-1 settlement statement as prepared by a local settlement attorney
- no deficiency judgment or promissory note
- response within 30 days, and closing within 30 days after approval
If you currently have a mortgage with Wachovia, you may qualify to sell your home as a short sale by participating in their Fast Track program. Even if you are behind on payments or have received a notice of default or notice of trustee's sale in the mail, we may be able to stop the foreclosure process. We've done it before!
As a Certified Distressed Property Expert and Certified Default Resolution Specialist, I help homeowners who are in distress understand their options. These options may include loan modification, forebearance, short sale, Homeowner Assistance Program (HAP) for Northen Virginia military families, or other alternatives that may be approved by your lender. Before you max out your credit cards or deplete your savings trying to keep your mortgage current, feel comfortable giving me a call at 703-623-8759.