My name is ray Lopez with Keller Williams, real estate here in Orlando Florida. I’m here today to talk to you about the Wells—the world savings fast-track program and what that means to potential clients of the bank. World savings was actually bought by a company called Wachovia, who in turn was bought by a company called world Wells Fargo.
This particular fast-track program is special to anybody that had it loan originated with world savings, so today we’re going to discuss the program cackling and what it might do to help you get out of your current situation.
The first point we want to talk about is the little or no documentation needed in a short zone in
a typical short sell . One of the things that most of the clients complain about is to get a large number of documentation paint work together to get the whole short sales started with this particular program.
It’s a streamlined program, what happens when you talk to the asset manager, the asset manager and ask you a couple of questions. Once that happens, you may have to submit one or two pieces of documentation, but at the most two pieces. And he makes that decision and you move forward. So having little or no documentation is very big to the average plank looking to short sale.
Second, you do not have to be late or delinquent on your payment, which allows you to keep your credit rating nice and healthy during the process once it gets short sold successfully with our help.
What’s going to be nice? Your credit will take a small hit if you decide to keep pain, just to the tune of a few points. But it’ll be a debt settled completely with no deficiency, so you’re not going to have a big score on your credit long-term.
The third point to the fast track program is that second homes or investment homes actually qualify. And in most short sell situate Asians, this is not the case. So anybody that has an investment home or multiple investment homes with world savings and war second homes will actually be able to qualify for this particular program.
Fourth point, we have a local asset manager that lives in the area that can actually meet
with you either via the telephone or face-to-face and give you more information about the program. If you need it or look at your case individually and you can ask that person all the questions you would like. So that’s local assistance here from somebody or representative, from the bank a true asset manager.
Fifth point, once we get the property as a short sale, if that’s what works best for you and your
Family. Once we put it on the market, we will actually get a response back from that asset manager in five to seven business days typically, at the most ten days, and that can actually help you and your family move on to the next stage of your life. So speed is of the essence and it will help you get to the next point your life.
The six point is no deficiency judgment or promissory note, so the particular load that we’re talking about if we can go ahead and get everything that we’re safe to happen. then you will have no deficiency, which means that you’re going to be able to walk away and not owe anything to the bank.
There are tickers, there’s a promissory tight note and that will be an amount of money that you would be over time. But with this program with the wachovia—world savings Wells Fargo fast track program, there would be nothing you would walk away, free and clear.
Lastly, because they want to help you be out of the property and get on with your life. They’re willing to give you the customary three to five thousand dollars to help you move, we call it relocation assistance and this will help you move on to the next stage your life with a little bit of your pocket.
This is just a program that they reached out to us, and they’re allowing us to reach out to you and present this as an option for you and your family. If this works, we love to work with you hand in hand. I work with a local attorney, his name is Mike Newman, he works for the North American short sale, it’s a company, it’s a title company that helps facilitate the short tip cell with that particular asset manager. And that’s why it works so fast and it’s just a streamlined process.
So thank you very much for reading the short sale program and we would love to meet you and be able to answer all of your questions. Thank you.