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Short Sale Deficiency-Negotiation Suggestions

Posted by Glenn Fleisher on April 20, 2011 at 3:17am

Can anyone give me an idea if you have had experience with Wells about how to negotiate deficiency judgment off in short sale. Also, how to structure re-payment schedule on this

 Lien removed.  First the lien and deficiency taken care of.

 

Second scenario:  $60k loan

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Comments

  • Jane Schippers April 23, 2011 at 3:29am
    We are working on one now and I had the same question for the negotiator. Her answer was that the only way  Wells won't issue a 1099 is if the sellers agree to negotiate a settlement with Wells' recovery department AFTER closing.  I really had never heard of that one before so I'm looking into it more....
  • Wendy Rulnick April 21, 2011 at 6:59am
    Their standard short sale approval letter addresses issuing 1099-C for cancelled debt. 
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