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Wells Fargo topsy-turvy short sale approval
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This case was confirmed under the April 2010 addendum, so it does not
have the modfication language that the current June 2011 addendum
contains. I agree the current addendum has not been superseded by the
new national forms. Even if the plan was confirmed with the current
addendum that would not seem to satisfy Wells Fargo. So far I am
getting the run-around and it is clear, to phrase it most kindly, a
lack of bankruptcy knowledge on the other side.
Additionally I do not particularly want to encourage relief from stay
as that would put the client at risk of earlier foreclosure if the
short sale is not accepted by Wells Fargo.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
On Mon, 2 Jul 2012 21:39:49 -0700, Giovanni Orantes wrote:
check the addendum to the plan. the most recent
addendum I checked says the lender can discuss loan mod terms. that
may be enough. Peculiarly, the addendum is no longer in our forms,
which now say it's been superseded by the new national proofs of claims.
Otherwise, the requested procedure really is silly. talk to a
supervisor at the bank.
Sent from my iPad
start="4p659ozqihs0@webmail.mysuperpageshosting.com"
charsetF-8
p{margin: 0;padding: 0;}This case was confirmed under the
April 2010 addendum, so it does not have the modfication language that the
current June 2011 addendum contains. I agree the current addendum has
not been superseded by the new national forms. Even if the plan was
confirmed with the current addendum that would not seem to satisfy Wells
Fargo. So far I am getting the run-around and it is clear, to
phrase it most kindly, a lack of bankruptcy knowledge on the other
side.
Additionally I do not particularly want to encourage relief from
stay as that would put the client at risk of earlier foreclosure
if the short sale is not accepted by Wells Fargo.
Mark T. JesseeLaw Offices of Mark T. Jessee"A Debt Relief
Agency"50 W. Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805)
497-5868 (805) 497-5864 (Facsimile)On Mon, 2 Jul 2012 21:39:49
-0700, Giovanni Orantes <go@gobklaw.com> wrote:
The post was migrated from Yahoo.
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It is a Chapter 13 not a Chapter 7.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
On Tue, 3 Jul 2012 03:56:26 +0000, stephenburtonlaw@yahoo.com wrote:
Motion to abandon. Sent via BlackBerry by AT&T
Sender: cdcbaa@yahoogroups.com
Date: Tue, 03 Jul 2012 03:04:18 -0000
To:
ReplyTo: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Wells Fargo topsy-turvy short sale approval requirements
Senior Citizen Debtor in Chapter 13. 2/3rds of way through 0% plan
paying only priority debts. Lost job. Can't find another. Can't afford
mortgage payment anymore. Stress taking its toll. Wants to conduct
short sale and has all cash buyer. He will be paid move-out stipend if
sale approved, so it is worth debtor's while to pursue short sale
rather than risk foreclosure and not be paid cash for keys. Lender,
Wells Fargo, insists that it will not consider the short sale unless
debtor first obtains an order authorizing short sale. Seems like
placing the cart before the horse! I explained that I can pursue a
comfort order allowing Wells Fargo to discuss short sale without
violating the automatic stay. I also the requirements to approve a sale
which include a sales price and estimated closing statement disclosing
who is being paid what. Wells Fargo insists an Order approving the
short sale must be obtained before it will consider the request. It
seems insane to me to take the time and expense of filing any such
motion before knowing Wells Fargo will agree to the short sale terms.
Even if such motion were filed based upon such speculative
anticipation, I am not sure Judge Kaufman would grant it without
knowing whether Wells Fargo will accept the short sale terms.
Anyone else dealt with a lender making such demands to consider a short
sale? If so how resolved?
Mark Jessee
start="1c12rzxfttwk@webmail.mysuperpageshosting.com"
charsetF-8
p{margin: 0;padding: 0;}It is a Chapter 13 not a Chapter
7.
Mark T. JesseeLaw Offices of Mark T. Jessee"A Debt Relief
Agency"50 W. Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805)
497-5868 (805) 497-5864 (Facsimile)
On Tue, 3 Jul 2012 03:56:26 +0000, stephenburtonlaw@yahoo.com
wrote:
The post was migrated from Yahoo.