Wachovia Short Sale Approval in 3 Business Days

I went to a meeting hosted by Wachovia which is part of Wells Fargo.  The speaker was the Short Sales manager for Santa Clara County and some nearby counties.  She said if properly executed, she can give Short Sale approval within 3 business days.  The process has been streamlined and sinplified.  She mentioned if she got a contract within 5 days of the foreclosure sale date she might be able to prevent the sale.  Since Wachovia was previously World Saving and Golden West, they go across her desk as well.  There are some Wells Fargo portfolio loans she can review.  A great situation for both buyers and sellers.  It shows some lenders are starting to adjusting to the real estate market conditions.   As with every situation, the short sale application has to meet certain criteria and guidelines.  Not every one’s going to work, but I can get a pretty good idea if it’ll work or not.

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