Short sale with WF?

[ccool322]

Hi
Has anyone been successful at negotiating short sale with WF? I bought 2 "investment" properties 4-5 years ago for $125k each. They're now worth $45k. I owe over $90k on each of the 2 mortgages. I can no longer afford to rehab these rental units every time the tenants leave & trash them. It costs $10k to do this every year, plus vacancies, lower rents (if paid at all), water bills, rising taxes, property managers, etc.
I have no way out but to short sell them.
I wrote a hardship letter & am working with a realtor specializing in short sales.
Has anyone been successful or have any insight??
Thanks!

[Evan Bedard]

Welcome and thank you for joining the community.

We have a ton of members here just like yourself currently pursuing a short sale with Wells Fargo. You definitely will want stick around this forum and feel free to join other discussions. Most everyone here is a homeowner just like you and going through the same things.

Please keep us updated and I wish you the best the luck in your fight!

Here are some links to other threads with members also pursuing a ss with Wells:


Wells Fargo Short Sale / Credit Reporting No lates

Wells Fargo Short Sale Pending in Nevada - would foreclosure be better?

Wells Fargo Short-Sale -- Escrow Account funds?

Help! Wells Fargo 2nd Killing Short Sale

Qualification - Wells Fargo Short Sale

Wells Fargo Short Sale Questions

[Tapeoka]

Just found out this class action against wells fargo is not only for ca homeowners but all homeowners who were mislead by wells fargo in thinking they had to be in default in order for wf to grant them a loan modification and/or went through the trial period and wf failed to grant them a permanent loan modification! Please help spread the word!!!