Wells Fargo: A Short Sale Nightmare

Dear Wells Fargo: Can You Spell Competent?

Dear Wells Fargo, I submitted a short sale in March in which we received a pretty quick approval in my book (by April 11, 2011). For that I say thank you. But since that time, dealing with WF has been an absolute nightmare

The seller and I understood that the property had been foreclosed upon last year around this time. And we knew back in December when I listed this property that the foreclosure had been rescinded. Yea!!!!! (possibly for my seller), so now my seller has a chance to short sell it. Whoo hoo!

What we didn’t know at the time was — get this…..the foreclosure was a mistake! Now that’s Joke #1 but it happens in the good old U S of A. It shouldn’t, but it did. Okay we’re over that. But what we aren’t over is the fact that this transaction still hadn’t closed when we were ready the day you told us it that the short sale offer was approved.

Now here comes Joke #2: I spent 6 weeks explaining to Wells Fargo in every language except Greek that this current transaction could not close until the “foreclosure” deed was transferred back into the name of the seller.

For some ungodly reason, WF chose to place the blame on the Jefferson County Tax /Collector’s office and ordinarily I’d be down with that because locally, we know Jefferson County doesn’t have CLUE. Yeah we know you paid the taxes last year, but get this: Jefferson County doesn’t give a hoot who pays the dang taxes as long as they get paid. What did you expect them to do: send the money back and tell you “oh Well Fargo, here’s your money back. You are no longer responsible for paying the taxes so we thought you like to have your money back.” Yeah right! At this stage, it’s almost believable that your very competent (cough, cough, cough) staff would really expect that. Now ordinarily I would buy that, as they are equally as incompetent, but they had nothing to do with the “mistake of foreclosing on the property from the beginning.

Why is it that everyone and da Momma (our closing attorney, the title company, the foreclosure attorney, the seller, the purchaser, the buyer’s agent) EVERY freakin’ body except WF understood a simple little concept such as a deed needing to be transferred back to the “Seller.”

To add insult to freakin’ injury, you send me an e-mail approximately 6 weeks after approval basically stating:

“Oh we finally figured out what happened. We need to get the foreclosure deed transferred back to the seller.” After literally screaming “WTF” way above my normal octave, I get on the phone AGAIN and someone repeats that they had discovered this little tidbit all by themselves. No S*#T jack. I’m just not sure how many ways I could have expressed this very sentiment. I had already conveyed it backwards and forwards and upside freakin’ down.

So tell me this Wellf Fargo:

  • Can you spell Competent?
  • Is there a competent member of your staff that knows how to get this deed transferred back into the sellers name.
  • Do you even care
  • Oh and thanks for letting me know that if the buyer walks, you’ll gladly accept another offer at the same price or higher without requesting the seller to provide additional documents. I’ll just bet the …….. you will.

Make no mistake, I’m a lady by all accounts and I am choosing my words very carefully. But know this my preferred choice of words would make a “sailor”proud.

Now put that in your crack pipe and smoke it. You obviously didn’t read my post on yesterday and maybe you should because at this stage of the game, we ain’t got nuttin’ to loose.

BTW (that’s short for by the way), you should promote Alisa Golay because she seems to be the only one who does have a clue.

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