Of all the tales that have been told about short-sales gone wrong, this one takes the cake! It was reported by the Florida Realtors in the daily news and events last week on Friday the 13th!
It seems that a Realtor in Orange Park was working on a short sale for one of her listed properties. She faxed the required short sale package, a large volume of documents pertaining to the sellers financial situation and sale contract, to Wells Fargo where the home owners got their mortgage.
Apparently Wells Fargo couldn't match the loan number with the property, although it was indeed correct. Instead, they looked up the real estate agents name and matched that to a Wells Fargo loan.
That giant company couldn't match up numbers, but they can compare names. Too bad for the Realtor that she had her own personal mortgage loan with Wells Fargo, too.
You guessed it...she is now in the fight of her life! She was never late on payments, never asked for loan modification, never signed nor sent in any documents regarding her property or her mortgage. But they now have her file assigned to the Loss Mitigation Department of Wells Fargo, and claim to have both listing and sales contracts for her personal residence WITH HER SIGNATURE on them!
You can't make this stuff up!!
Last night on the news they reported on a family who was pretty surprised when the moving van arrived and people started trying to enter their house with furniture and boxes. They said "STOP!" and asked what was going on. The other folks replied that they had purchased this very home as a foreclosed property from Chase.
Yep, Chase messed up big time with this one! The owners of the house were not late on any mortgage payments. They, too, never asked for a loan modification and never communicated with Chase except to send in their mortgage payment monthly...and on time. They were never notified that there was any type of problem, nor that Chase had any issues with them, much less a foreclosure. But sure enough, Chase did foreclose on that house and sold it to the folks arriving with the moving van full of home goods!
Some attorneys are going to get mighty rich on cases like these.
And you wonder why I complain about working with mortgage lenders these days?
About Me
- Bonnie Coulson
- I've been in the real estate profession since 1997 and love my job! There's always something new and interesting happening and it's never dull. That's why I created this blog. I hope it will inform and entertain you and that you'll check it often. Please note that I have not allowed for comments to be left after my posts since I do not have time to 'police' other's entrys for proper 'vocabulary', etc. If you have a comment, good or bad, please contact me directly. If your point is valid, I'll put it in another posting. All the best. Bon (Compass Point Real Estate 603 17th Street Vero Beach, FL 32960)