Wells Fargo limits homeowners extensions on short sales � HousingWire

AT A TIME WHEN 3 OUT OF 7 OR 8 MAJOR BANKS ARE ADMITTING TO FAULTY PAPERWORK TO FORECLOSE AND WHEN THE IMPACT ON THE COUNTRY IS PROFOUNDLY NEGATIVE --- AT a time when the  7 major lenders are ordered to review foreclosures cases: 

ONE has to wonder at Wells Fargo's response.  Have they had time to analyze ALL the foreclosures done in past three years?  . Instead of helping homeowners, they are making it harder to take the steps to protect credit AND get out from underneath the rabble caused by housing bubble burst and lengthy recession - with following article you will understand.  

In repsonse to the affadavits and documents used to procure a foreclosure sale - they are stating that they will correct ANY mistakes but that they stand behind what has been done so far.

In otherwords, tough luck and if there is a mistake we will fix it. That is what homeowners are suing for- corrections that up until  now have not  happened voluntarily.  I dont' believe that any corrections will be forthcoming without political and legal pressures.  

Click title link to read full article: 

Wells Fargo limits homeowners extensions on short sales � HousingWire: "Wells Fargo spokesman Jason Menke also said certain mortgages owned by the bank, which investors are looking to take in a short sale, will still be allowed one foreclosure postponement provided there is some indication the short sale is guaranteed to be approved.

'We do allow for one foreclosure postponement provided we have a short sale in hand that has been approved, the buyer has proof of funds of financing approved, and the short sale can close within 30 days of the scheduled foreclosure sale,' he told HousingWire"

Share|