Category Archives: Wells Fargo

Wells Fargo Short Sale – Black Mountain, NC

This short sale was incredibly over-leveraged.  The outstanding debt to Wells Fargo was more than twice the amount the property sold for as a short sale.  Yet again, this short sale was attorney-negotiated (as they all should be).  That’s a function of the property condition (not so good) and market condition (also not so good).  […]

Also posted in Closed Short Sales, North Carolina Short Sale News | Comments closed

Uncle Sam Promoting Short Sales?

According to Jim Puzzanghera and Alejandro Lazo of the Los Angeles Times, a potential deal is in the works between banks and government officials that would force banks to approve short sales for severely delinquent borrowers.  Additionally, servicers would be required to reduce the amount owed on certain home mortgages. There are 2 obvious advantages […]

Also posted in Bank of America | Comments closed