For those of you with mortgages at Wells Fargo and facing foreclosure, the stagecoach (Wells) has announced a revision of its policies if you're working to avoid foreclosure by doing a short sale. Very specific, these changes stipulate that a foreclosure will be postponed if you meet two conditions:
1.)You must have received and provided to Wells an approved short sale contract with a buyer;
2.) The short sale must close within 30 days of the scheduled foreclosure date.
These rules may help some of you if you and your Realtor can get a contract from a buyer for a short and get Wells to approve it. You and your Realtor should check very closely and without delay with Wells on getting the approval.
Good luck!
Separately, for all of you who find themselves facing possible foreclosure and/or short sale of your home, I extend this Thanksgiving wish. It is that next you can hopefully resolve your present situation successfully, and that next Thanksgiving will find you and yours in a happier more joyful situation. Meanwhile, a sincere heartfelt wish for a happy Thanksgiving.
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