Wells Fargo recently came out with a new program known as the Fast Track program that has to do with quicker processing of short sales. It is supposed to streamline the process and make the turnaround time for short sales much quicker, so if you have an underwater mortgage with Wells Fargo, we encourage you to find out more information about this today. Only certain short sale specialists are trained on this program, so you if you are interested you should also make certain that the short sale specialist you are working with is trained in and has access to the Wells Fargo Fast Track program. There aren’t very many short sale programs like this out there right now, so some short sale specialists may be new to the process. Always ensure that the realtor you are working with is a legitimate short sale specialist, especially when choosing to participate in a new and unfamiliar program like the Fast Track program.

There are some advantages and benefits to participating in this program, such as monetary incentives at closing. Some distressed homeowners are receiving $3000-$5000 to successfully short sale their home. Wells Fargo is also fully waiving the deficiencies on these mortgages, meaning they are waiving all rights they have to collect the forgiven amount in the future. Many participants of the Fast Track program are also getting approvals on their short sales within three weeks, which can be very uncommon for a short sale. Another perk of the Fast Track program is that Wells Fargo is only requiring a hardship letter, instead of all types of financial documents. This can save you the headache of constantly keeping your financial information updated.

If you are curious as to how to qualify for the Wells Fargo Fast Track program, contact a short sale specialist in the Las Vegas area today. They can help you determine if you are eligible and help you get the process started.