Has anyone had experience with WellsFargo Short Sale Approvals on the 2nd that there was a non-forgiveness of the debt where the homeowner is still liable to pay the balance back. Is this customary for WellsFargo seconds and has anyone been able to negotiate this to be forgiven before or after the closing?
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As always, start offering cash settlements...
As it seems you may be in a deficiency state then yes it is legal for the lender to pursue the borrower even if the short sale is completed. In regards to negotiating the deficiency to be forgiven it really comes down to the numbers for the lender. We have definitely negotiated this off our clients before. Brett@ishortsalenow.com