[by Jason Ian Hector, REALTOR® 10/16/15] In my experience, Wells Fargo is one of the easier lenders to do a short sale with because the company is efficient in the their handling of the short sale process. Wells Fargo is also very pro-active with borrowers.  According to Wells Fargo, there is an average savings of 10% over REO (real estate owned) properties.  Another example of Wells Fargo being much easier than some of the other lenders is that they are proactive in the short sale process.  For example, they will allow a value to be obtained before an offer comes which reduces the Short Sale timeline overall. 

 

For homeowners, the key is to get an experienced Real Estate Broker like myself involved early so I can work with the lender to determine a pre-approved short sale price and hopefully get enrolled in the HAFA Short Sale program which has the benefits of $10,000 relocation assistance and foreclosure protection while in the program.  Wells Fargo is a participant in the Making Home Affordable program so your Wells Fargo mortgage may be eligible for the HAFA short sale program or one of the other HAMP Programs.

Short Sale Department (1st Mortgage)	866-90-1053	Phone
Mortgage Customer Service	877-841-5301	Phone