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Wachovia REO

Wachovia sells REO properties through local real estate agents and brokers. These bank owned properties are grouped into residential foreclosures and commercial foreclosures. A centralized listing exists for the real estate owned homes whereas there is no such list available at national level for the commercial bank owned properties. As there is no specific REO department at the bank, the property preservation and asset management services are generally provided by hired professionals, asset managers and REO vendors. Fro broker application, one should now contact the REO department of Wells Fargo bank as Wachovia is now a part of Wells Fargo.

Wachovia REO Properties

Wachovia REO Properties can be searched using the search tool available on the website reo.wachovia.com. You can also obtain the facility to get notified through email alerts immediately after a property matching your criteria is included in the database. However, you need to contact the agent dealing the property for completing the buying process. The phone number, address and other contact details of the realtor are given against each entry on the listing. The listings also contain brief property details including locations, offer prices, lot sizes and building specifications. Florida, California, Georgia, Colorado, NJ and NC are some of the states where Wachovia is currently offering REO properties for sale. If you are interested in availing the mortgage loan services of Wachovia in order to be able buy a foreclosed home, call 800-922-4684 to enquire about an available option.

Wachovia Foreclosures

Despite the fact that neither the borrower nor the bank wants to let the foreclosure happen on a property, it does happen, and brings troubles to both. The only bright side of the whole process is that investors and first homebuyers get opportunities to own residential properties at a less-than-market price. So most banks usually have loss mitigation department to contact troubled borrowers and save them from bankruptcy. There are broadly two kinds of homeowner assistance programs. One aims at helping borrowers retain homeownership while paying all outstanding dues whereas the other helps them dispose of the property and use the proceeds to clear off debts. Loan modification, repayment and refinance come under the first category of mortgage assistance plan and the second category offers solutions like deed in-lieu-of foreclosure and short sale. Here are the contact details of Wachovia Loss Mitigation Department for residents in North Carolina.

P.O. Box 96001
Charlotte, NC 28296-0001
Phone Number: (866) 642-9405

Wachovia Short Sale

Sometimes a short sale becomes the last resort to avoid foreclosures. The process cannot be initiated unless the bank gives approval for the same. As it is less expensive than a foreclosure, the bank generally agrees to the proposal. Wachovia fast track short sale program offers the approval letter within 7 to 10 days after receipt of completed forms and other required documents. The entire process of sale is required to be completed within 45 days.

Obtain Wachovia short sale package containing the request form and other requirements and complete the same. Send the same to your local short sale manager or the Wachovia Short Sale Department via email or fax. Here are the contact details:

Wachovia Short Sale Department
Phone Number: 209-599-6783
Toll Free Number: 800-985-0073
Fax Number: 866-592-5987

For more on any aspect of Wachovia REO properties, Foreclosures and Short Sale visit the website of the bank.

Website: reo.wachovia.com


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