Hi guys, I currently have a Short Sale with Wells Fargo and I just came to find out that they have recorded a $14K lien onto the property and before they can proceed with the SS in Equator, I have to get that lien released for $2500 or less. Well.. the thing is the lien is from Wells Fargo and the mortgage is also Wells. That don't make sense, they're basically asking me to negotiate the $14K and get that release first then they will process the SS? Why can't they just handle this themself?
In any case, my client is not even aware of the $14K lien they filed on the property or why it is there, what should I do? And is this normal for the bank that is filing foreclosure also filing liens on the property?
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Update:
They won't budge from 75% of the balance. Good news is that the bank is willing to chip in $2500 at closing.
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