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Wells Fargo can be a challenging lender to work short sales with, but sometimes you get lucky! See how our South Windsor, CT short seller walked away from over $50,000 of bad mortgage debt in this Wells Fargo FHA short sale!
After years of struggles with loan modification attempts, our seller decided it was time for a new direction!
I originally met my client in 2016 when he first attempted to short sell his upside down South Windsor condo. Wells Fargo was proving difficult to work with and he soon decided to take his property off market and pursue a loan modification. Two and a half years later he reappeared! Sick and tired of endless Wells Fargo shenanigans he was ready to finally cut his losses and walk away!
Wells Fargo short sales can be notoriously difficult to process, as this lender struggles with staffing and organization. This time proved to be different! We almost immediately received an ATP (Approval to Participate in the FHA short sale program). A buyer was quickly secured and the file headed in for final approval!
This South Windsor short sale was soon approved!
Several weeks later our final approval letter arrived and this Wells Fargo short sale seamlessly closed, with our seller walking away from years of struggles with his upside down condo and fully forgiven of over $50,000!