Wells Fargo Financial SHORT SALE / FORECLOSURE Urbandale, Iowa - Wells Fargo Financial
December 3, 2010, Anonymous
I am doing a short sale with Wells Fargo Financial and I never got so difficult people to work with. I was two days before closing and the AC units were stolen, the buyer wanted the property but without AC units he couldn't get FHA financing, he tried FHA 203K but there was not enough room with the Appraisal value to qualify for it. I got another buyer with a conventional loan and able to pay for the AC units from his pocket but Wells Fargo Financial will not extend the date of Trustee Sale two more weeks to close this transaction even they are getting the "net" that they want, they prefer that the property goes into foreclosure.
The negotiator Alyson Flowers and her manager Luke Reimers will not cooperate at all. I understand that the banks make more money is the property goes into foreclosure instead if a Short Sale is done. The real estate agents we work hard to help the homeowners to get less impact in their credit and trying to get the neighborhoods with less bank owned properties (in this neighborhood are 410 properties with Notice of Trustee's Sale and 144 Bank Owned Properties only in a mile radius) that generally are empty for a long time and bring the prices down in the neighborhood.