Home > Uncategorized > Wells Fargo Foreclosed on our Property 1 day before the close of escrow

Wells Fargo Foreclosed on our Property 1 day before the close of escrow

We had the same thing happen that is explained in the following video. We were the listing agent. Escrow was to close on the 29th, the bank sold the property on the court house steps  on the 28th for $212,000.  The contract in escrow was for $280,000.  The first which is also Wells Fargo was being made whole!  The second foreclosed….It appears this is becoming a common practice with Freddie and Fannie owned loans.

Big government at it’s best.

http://www.youtube.com/watch?v=j_PaoD3pzrQ

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