Complaint / Review
Wells Fargo Home Mortgage
Short Sale Stalled Because First and Second Loan Holders Will Not Coordinate

So, a client of mine has a first loan and a home equity line with Wells Fargo. We are working on negotiating a short sale. Neither entity inside Wells Fargo will either communicate directly with each other in order to determine how much the second will get, nor will they negotiate at all. This will force the home into foreclosure or the homeowners to file bankruptcy. I did not think financial institutions wanted to own homes, but apparently Wells Fargo does. You would think this short sale would be easier to negotiate because the same company holds both loans... Think again.