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Wells Fargo topsy-turvy short sale approval requireme=
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Borrowers qualifying under HAMP/HAFA which conduct short sales are
entitled to a minimum moveout allowance of $3,000. Wells Fargo has not
said no, it says it will not look at the short sale proposal until the
debtor obtains and order "removing" the property from the bankruptcy.
That said, no surprise, the right hand does not know what the left one
is doing there and and its attorneys filed a motion for relief from
stay this afternoon. Now at least I can communicate with someone that
understands bankruptcy procedures...!
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 11:40:14 -0500, "Link W. Schrader" wrote:
Wouldnt a mortgage creditor have something to say about a debtor
receiving a benefit (cash for keys) from the disposition of its
undersecured property? It sounds like Wells Fargo has said nothe short sale and offered the debtor a path if the debtor wants to
challenge that decision. See if the court will approve the sale,
including the cash for keys terms.
Link Schrader, Attorney
Law Office of Link W. Schrader
Behalf Of Mark T. Jessee
Sent: Monday, July 02, 2012 10:17 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Wells Fargo topsy-turvy short sale approval requirements
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 I agree the current addendum has not been superseded by the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="2xv4lz3d73wg@webmail.mysuperpageshosting.com"
charsetF-8
p{margin: 0;padding: 0;}Borrowers qualifying under HAMP/HAFA
which conduct short sales are entitled to a minimum moveout allowance of
$3,000. Wells Fargo has not said no, it says it will not look at the
short sale proposal until the debtor obtains and order "removing" the
property from the bankruptcy. That said, no surprise, the right hand
does not know what the left one is doing there and and its attorneys filed
a motion for relief from stay this afternoon. Now at least I can
communicate with someone that understands bankruptcy procedures...!
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 11:40:14 -0500, "Link W. Schrader"
<lschrader@schrader-law.com> wrote:
The post was migrated from Yahoo.