Wells Fargo Home Mortgage is the latest lender to offer large cash incentives to Morgan Hill home owners who have a Wachovia Bank loan (now owned by Wells Fargo) as part of a Short Sale incentive. Naturally, these are non-HAFA Short Sales where the home owners have to decline their option for a HAFA Short Sale.
With HAFA Short Sales, Morgan Hill home owners can only receive $3,000-$6,000 at the close of escrow for Relocation Expense. But given the fact Wachovia Loans are now candidates for a large sum of relocation inventive, we are recommending our Morgan Hill home owners decline the HAFA Short Sale option.
But before you decline the HAFA Short Sale, make sure that your loan has not been sold to a 3rd party investor and is still owned and serviced by Wells Fargo. For our Short Sale clients in Morgan Hill we utilize a 3rd party Authorization to confirm the loan information. This information is critical to confirm the availability of these incentives to Morgan Hill home owners.
To qualify for these relocation incentives, your lender will require a handwritten letter stating that you are declining HAFA Short Sale as an option. These large incentive have expiration dates and might not be around for long. According to our well placed source at Wells Fargo Home Mortgage, incentive letters have already been sent out on Wachovia Bank loans with an expiration date which requires the home owners to contact the Wells Fargo if they are interested in taking advantage of these incentives.
Even if have completed your bankruptcy you might still be eligible to receive these incentives from Wachovia on your Morgan Hill Short Sale. Wells Fargo Home Mortgage incentive program is supposed to be more conservative at 15-20k max which is good incentive for home owners whose home will never recover in value.
Contact Us if you have any questions on your Wachovia Short Sale since these are limited time offers from these lenders who are offering Cash for Short Sales.