Why Wells Fargo Is Coming To Your House

13 Sep 2010 · Kurt

I wanted to address a concern a few of my clients have, and other people I’ve spoken with, about Why Wells Fargo is Coming to Your House? The circumstance they have been telling me is that Wells Fargo has been coming and knocking on their door. So, I wanted to explain to you a little bit about why they are doing that, and what that means.

First off, many times when a homeowner goes behind on payments, the banks now are taking more proactive measures to either drive-by the property, or take a look at it to see is the property vacant, or if anybody is living there. That’s the first concern that they are addressing. May banks will do what they call “drive-by” on those properties, and just verify if the property looks lived in or not. But Wells Fargo has taken it one step further by actually knocking on the doors of some of these consumers. Now, it’s generated response from most people I’ve spoken with, and they are not happy whatsoever. So, I just thought maybe I could alleviate some of your concerns and explain why Wells Fargo is doing this.

Again, they are checking the occupancy of the property. They also want to reach out to the homeowners, and knock on their doors, and explain to them that if they are behind on payments, what some of their options are. Such as; if they want to does a Loan Modification, if they want to do a Short Sale, or ask them point blank if they plan on letting the property go to Foreclosure? These things help the banks, such as Wells Fargo, make a decision as to whether or not they should propose quickly, or extend a little bit more time etc. So, if somebody does come to your door explaining that they are from Wells Fargo, most of the time they are going to be some type of Real Estate Agent, or just an employee. Let them know what it is you intend to do. If you haven’t called the bank, call the bank and let them know you want to do a Loan Modification, or you want to do a Short Sale.
Having an open communication with the bank will alleviate many times these people coming to your door and hanging things on your doorsteps etc. Their objection and goal is not to scare you or intimidate you. It’s simply to gather some information for the bank, and to relay some information to you.

I don’t know if Wells Fargo will continue this tactic, or if other banks will start to do it, based on the response that I’m currently seeing. Again, most people are not happy whatsoever, but nonetheless, it’s good to understand why they are doing this and explains that a little bit to you.

So hopefully you found this helpful. Thank you very much for watching this. Have a great day!
This is has been my presentation on Why Wells Fargo Is Coming To Your House

Kurt Wannebo
San Diego Real Estate and Investments

Kurt Wannebo

California / San Diego Real Estate & Investments / Broker Kurt · 3636 Nobel Drive · Suite 170 · San Diego, CA 92122

Phone: 1.888.473.7324 · 858-412-5541 · Email: info@sdreai.com

CalBRE#: 01468255

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