Fast Track Program

Until the recent downturn in the economy the thought of doing a short sale was unheard of but in today’s world it’s one of if not the best way to get your families financial status back on track. In the past couple of years banks were reluctant to work with a homeowner to allow a short sale to take place or they made it very difficult creating a hesitancy among buyers to go through the process of buying a short sale.

That’s changing, banks are now offering aggressive short sale programs with terms and conditions sellers are seeking, these programs are quickly gaining buyers attention with them placing offers with more enthusiasm turning away from the multiple biding process of foreclosure’s.

Below is one such program.

Wells Fargo, Wachovia and World Savings Bank recently unveiled a new short sale solution in Central Florida developed for homeowners with loans by one of these three entities.

The ‘Fast Track Program’ offers many advantages as compared to a normal short sale or foreclosure, including the fact that there is no late payment history needed.

Fast Track Program basic features:

1. No written hardship letter
2. No required financial paperwork
3. 7 day turnaround for acceptance of your Short Sale
4. $2500 in moving expenses from Wachovia if a Short Sale is your best option
5. Closing escrow in less than 45 days
6. A full release of lien with no deficiency

The Wells Fargo & Wachovia ‘Fast Track Program’ not only helps streamline the short sale process by design  it also helps your home stand out to the 90% of Buyers starting their home search online.  A requirement of the program is the phrase ‘Wachovia Short Sale‘ must be included in the public remarks section of the MLS listing, a soon to be recognized and sought after term by serious Buyers.

Fast Track Program getting started:

1. List your home with a Realtor® that understands the ‘Fast Track Program’
   1. ePRO® certified offering a strong online marketing program
2. Contact the local Wells Fargo or Wachovia Fast Track Program Manager
   1. If basic criteria is met and your loan qualifies you will be placed in the Fast Track Program
   2. Manager may authorize an appraisal setting an approved short sale price
3. Upon receiving an offer at fair market value it is submitted for approval
   1. As part of offer submittal closing agent (title company) prepares a HUD-1
4. Within 10-15 days we should receive approval

While and during the above steps are taking place working to obtain any settlement letter(s) from any junior lien holder(s) should be in process.

View our success rate helping distressed homeowners work through the basic non special program short sale, ‘Short Sale Success Webpage‘

Check out the short sale questions & answers, ‘Short Sale Questions & Answers‘

We have a hands on working knowledge of this special program, our agents are currently helping homeowners with the ‘Fast Track Program’, contact us to discuss your questions and thoughts on the ‘Fast Track Program’

Broker Dave Lowe  -  407-330-0060 (office)  -  davelowe@OrlandoHomeStore.com (email)