If you just can’t afford your current mortgage and can no longer stay in your home, a short sale might help avoid foreclosure. Even if the foreclosure has begun, the date may be postponed once Wells Fargo receives a signed purchase offer. Wells Fargo works closely with real estate agents in order to determine the acceptable market value of your home.
The documentation required for your Short Sale Package to Wells Fargo includes:
If Wells Fargo is your first lien holder and there is a second with another lender, request a payoff demand and include it in the package.
NOTE: If you have your first and second mortgage with Wells Fargo. Be sure to send the complete short sale package to both departments.