We brought you the story of the HAFA short sale that was still headed to foreclosure even though the owner was approved for the new government short sale program. Well, the foreclosure was stopped just a day before foreclosure and now Wells Fargo has sent in the short sale approval letter and we’re scheduled to close on August 16th. So, the homeowner has time to make the transition and the closing will happen within 3 months total for the new buyers. Now, the item that is starting to becomea trend with Wells Fargo is their demand for cash at closing from the seller. If it had been a direct loan backed by Wells Fargo, that would not be requested by Wells. But this loan was backed by an investor, so Wells Fargo has asked for $5,000 cash from the seller at closing. Of course, we’re still working on negotiating this down and we’ll keep you posted. The biggest news for the seller is – they’re waiving deficiency and they’re not asking for a promissory note for the amount not paid off. Here is a copy of the approval letter:

For additional info on this case, here is the first article written on this short sale:

http://virginiashort2.wpengine.com/hafa-short-sale-approved-but-quickly-hits-a-snag-wells-fargo-short-sale-in-herndon-va