|
|
Review 6/15/2010
|
We had our home loan mortgage serviced through this lendor. We worked to short sale our home for 12 months. Wells Fargo dragged their feet on the paperwork time and time again, sitting on documents until they expired. We turned in all our proper documentation within 48 hours of each request. We had three offers the day after the property was listed,2 of them full cash offers. Due to the delay, all three buyers eventually walked. We started over with another set of buyers, all with 20% or more down (cash). Wells Fargo made every excuse they could as to why they could not approve the loan (2nd lien couldn't establish a price, market price still under evaluation, etc.), then on the 12th month they auctioned it out from under us. We received a letter stating that the 1st and 2nd lenders could not agree on a settlement price. Now we have a foreclosure on our credit.
We found out after making some phone calls that WF was working under the table with another realtor whom they must have signed a deal with as an "investor" and closed the deal in one day at auction. All this happened while we had an active buyer with 20% down, pre-approved and willing to pay the approved short sale price (which was set by WF). We had submitted all necessary paperwork and were simply waiting for an authorization from our negotiator who had no obvious intention of completing the short sale from the get-go, I would imagine. Amazing what quick action they can take when it is for their own benefit. These companies make me sick.
|
|
|
|
|
|
|
|