Wells Fargo to Stop Short Sale Extensions???
I just read this post from a reputable source. Have any of you RainMakers out there know anything about this?
Wells Fargo Puts a Stop to Short Sale Extensions
Wells Fargo will no longer delay foreclosure proceedings in hopes that a short sale deal will come through. At the requests of its mortgage investors, including Fannie Mae and Freddie Mac, the bank has stopped granting extensions for distressed homeowners to complete short sales. Going forward, borrowers must close on short sales by the date quoted in their approval letter. The policy change will allow the bank’s foreclosure proceedings to advance, even if a short sale is already in negotiation.
2 Responses to “Wells Fargo to Stop Short Sale Extensions???”
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My partner and I really enjoyed reading this blog post, I was just itching to know do you trade featured posts? I am always trying to find someone to make trades with and merely thought I would ask.
Thank you, I have recently been searching for information about this topic for ages and yours is the best I have discovered so far.