The Wachovia shortsale program helps distressed homeowners facing foreclosure in San Diego, CA. The ground breaking Wachovia shortsale program is leading the industry when it comes to getting the process done in record time. The average time for a normal shortsale with other lenders is at least six months. The Wachovia shortsale program takes only 45 days!!!
Here's how it works. A shortsale is when the homeowner cannot sell their property to cover the amount owed on the mortgage and the lender holding the note agrees to take the loss. The homeowner lists the property with a real estate agent and meets with a Wachovia representative in their home. No other lender has local representatives in the field to help move the transaction along. By doing this, the Wachovia shortsale program is very effective in closing the sale and making it a win win for everyone.
The homeowner gets stress relief, a lesser impact on their credit than a foreclosure, and a chance to buy a FHA home in approximately 3 years instead of 7 years had the house been foreclosed. As for the lender, they get to minimize their financial loss by not taking back the property.
To sweeten the deal even further, the Wachovia shortsale program offers distressed homeowners a minimum of $2,500 if they qualify to help with moving costs. Another key feature of the Wachovia shortsale program is that the distressed homeowner does not have to worry about lingering mortgage debt. There are many reports nationwide of other lenders seeking upaid mortgage balance from homeowners years after the shortsale transaction has closed.
If you're a homeowner that's facing foreclosure in San Diego it's important to know there are options. If the mortgage on your home is held by Golden West, World Savings or Wachovia, the Wachovia Shortsale program might be available to you. The best time to act is now by giving me a call to set a free consultation at 619-248-5484.