(800) 961-8663 [email protected]

Wachovia known for its speedy work outs and it could be because of the streamline guidelines that they put out to begin with. In fact those rules aren’t necessarily that stringent but they do keep the flow of work going. Wachovia’s short sale department uses an automated valuation system and through the use of only requesting appraisals when needed they are unloading their short sales as fast as they can. We even have joined in and having been directly working with a Manager have been working through her Fast Track program that get’s us approvals in as little as 7-10 business. days.

It has been brought to our attention through our resources that all offers brought in 200,000 below market value (remember this is based off of their automated values) they will all together decline you. In fact they will sent you the letter found below:

Wachovia Mortgage has received and reviewed your request for a short payoff. Based on our evaluation and review of the information submitted to us, payment in full is required. We appreciate your attempt to settle your debt. Unfortunately, the offer presented to us is declined at this time.This decision was based in part upon information contained in a consumer credit report obtained from the reporting agency noted below. The consumer reporting agency did not make this decision and is unable to provide you with the reasons this decision was made. You have a right under the Fair Credit Reporting Act to know what information is contained in your credit file at the reporting agency. You also have the right to a free copy of your report from the reporting agency if you request it no later than 60 days after you received this notice. In addition, if you find any information contained in your credit file is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency.

Experian National Consumer Assistance Center
701 Experian Parkway
P.O. Box 949
Allen, Texas 75013-0949
(888) 397-3742

If this account is delinquent and/or in foreclosure, Wachovia Mortgage will pursue or continue the collection remedies available to it as stated in your Note and Security Instrument.

Now it is important to understand that by no means is an end all and there is definitely room to negotiate around this as long as you have someone willing to lend an ear. If the offer though comes within 100,000 of the actual value the lender will look to counter or take the additional steps necessary to verify it’s own value. They aren’t in business to lose money but they definitely have a plan to move as quickly through these short sales possible. We are just glad that we could make ourselves and our associates part of it too!

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