Wells Fargo has changed some of their guidelines to make doing a short sale quicker and easier. Wachovia short sales are even easier than Wells Fargo short sales.
It's best to find out if you qualify for the HAFA program before you submit an offer. Some investors will not consider you for HAFA if your agent submits an offer with the short sale package. An important advantage is the bank/investor will tell you the minimum they will accept making it easier to market the property and makes it a lot easier to process your short sale. You don't waste time with offers the lender will not accept.
With Wachovia an area manager will either call you or go to your home and speak with you about your hardship. If they feel you have a hardship and it isn't difficult with Wachovia, they issue it to you on the spot. You do not have to supply income/financial documents. The whole process can be completed in less than 60 days. When you do a Wachovia short sale they give you money for relocation I have seen anywhere from $2,500 to $5,000. One client got an IRS tax lien for $8,500 paid off and received $3,000 and it was a rental property.
I learned of these chages from the VP of the Short Sale Dept. at Wells Fargo when I attended a seminar presented by Wells fargo.
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