Foreclosure in Portland>Question Details

Jfk, Home Owner in Portland, OR

Loosing Condo in Oregon, tried short sale but Wells Fargo will not review offers, even cash. Bank is pushing to auction. What can I do?

Asked by Jfk, Portland, OR Tue Apr 12, 2011

Have had it listed for only 3 months, have had 5 offers, 2 of them cash. During my loan history with Wells Fargo I never missed a payment, applied for a modification, which I was told was good, started paying modified price, never missing a payment, then was delivered a foreclosure notice in Aug...It's moving so fast..Why? The builders themselves are being sued for nonpayment of HOA to the reserve account by their bank. 4 months of mortgage payments were returned to me marked "mis-allocated funds" How do they mis-allocate my mortgage payment, they stopped accepting my mortgage payments??? Can I get legal help for free? Can I go after a big company like Wells Fargo? Can I save my condo? I have been told they are sending it to the auction department today from my previous relator, but wells Fargo has told me nothing? The last corrspondance I received was 2 days ago about saving my house and stopping the foreclosure....yes please!!!

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The first thing to do is contact a title company, ask for customer service and ask them if any of your paperwork includes a MERS assignment. If it does, use a search engine for 'robosigning'. robo signing', MERS lawsuits' etc and chose an atty to help you stop the process. Other than that, talk to an atty. Good luck---you are not alone for what good that does. I do price opinions for lenders taking properties back. Ive done over 1,000 and Im just one of several thousand brokers doing them. A HUGE percentage or Oregonians have lost and will be losing their homes. Its all part of the plan. The lenders want to forclose! They do not want to modify loans, and our government is paying them BILLIONS to stay in business while they tell people to stop making payments to be able to modify, then calling it all due after months of useless lies and paperwork.
0 votes Thank Flag Link Tue Apr 12, 2011
Please give me a call. We frequently postpone auctions to close short sales. I would need to have a look at your file, and then I can probably figure out why Wells Fargo is not cooperating. Perhaps there is some missing paperwork? There could be a number of reasons.

We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com http://www.shortsaledepartment.com
Serving all 50 states

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.

A moment ago
0 votes Thank Flag Link Tue Apr 12, 2011
Please give me a call. We frequently postpone auctions to close short sales. I would need to have a look at your file, and then I can probably figure out why Wells Fargo is not cooperating. Perhaps there is some missing paperwork? There could be a number of reasons.

We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
http://www.shortsaledepartment.com
Serving all 50 states

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
0 votes Thank Flag Link Tue Apr 12, 2011
Hi again JFK,
Here's a more direct link (below) to the list of basically FREE housing counselors, but do call me so I can tell you more about it. I know "free" sounds like no value, but in this case, my experience is that its very valuable.
Marge
0 votes Thank Flag Link Tue Apr 12, 2011
My advice is talk to Wells. From the little you said I would say it has to do with the HOA possibly, but they should talk with you. There is legal help but it will cost you.
The most important thing to do is contact the local HUD office. You didn't say where this is? If its Portland, I know the office there was really helpful with me. They are a basically FREE service (small charge for credit report) and they will call on your behalf and they got right through to my lender and stayed everything til my bank worked out a plan with me.
This is very sad and not right, from what you said, but happening alot with foreclosures that are not correct. If you contact me directly I would be happy to help you find your local HUD and any other referrals I can help you with. I hate to see this happen and will be happy to lend a free hand to help so send me an email or give me a call.
Marge
0 votes Thank Flag Link Tue Apr 12, 2011
Hi JFK,

Call me at your earliest convenience. I do have a few good inexensive referrals, but need to know a little more. My number is 503-336-6155.

Thanks,
0 votes Thank Flag Link Tue Apr 12, 2011
The short sale department at Wells is not the same as the foreclosure department at Wells. I'm not even sure if they're in the same building, much less the same state.

Under Oregon law, Wells is required to give you 120 days notice of default before they can affect the foreclosure auction.

I would urge you to talk to an attorney regarding your situation.
0 votes Thank Flag Link Tue Apr 12, 2011
Your Realtor should have been in contact with the bank's Asset Manager assigned to your case. That's probably your best source of a straight answer.
0 votes Thank Flag Link Tue Apr 12, 2011
The bank is your best bet to discuss the situation. Do you have a lot of equity in the condo? Email us direct for more help ....contact@team1-realestate.com or call a local real estate attorney for a 30 min free consultation.
0 votes Thank Flag Link Tue Apr 12, 2011
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