A Little Good News for you Option ARM Borrowers

A Little Good News for you Option ARM Borrowers

If you know me, you'll remember the slogan I had on my business card from 2003-2007 - "Friends Don't Let Friends Buy Option Arms". I never originated an Option ARM loan, and talked many out them.

Anyway, if you unfortunately did end up getting an Option Arm from Wachovia (a.k.a. World Savings and Golden West Savings), most likely your home is under water and your payment has gone up. If you are facing a genuine hardship, than unlike other lenders (like Washington Mutual, Countrywide,…) Wachovia options ARM borrowers will find an easier way out of their burdensome loan.

Currently 20% of Wachovia loan portfolio is in some stage of default, so you’re not alone.

I attended a Short Sale Seminar sponsored by Mason-McDuffie Mortgage Corporation and presented by Wachovia Bank, yesterday.

Wachovia has set up local group to help them expedite the approval process of completing a short sale. Based on the feedback I've gotten from other agents who've recently closed with Wachovia and discussion with Placer Title Companies Short Sale Group.

Wachovia is genuinely interested in helping people move onto the next phase of their life. If you have 1st with Wachovia (think World Savings, Golden State or Wachovia - Option Arm Loans), and you are having difficulty making the payments, and the loan balance is greater than the value of the home, than give me a call.

To find out if you qualify, give me call.