Hello everyone my name is Matt Fetick with Sold By Short Sale, Pennsylvania’s leading short sale specialist, thank you for your time today. I use this blog to keep distressed property owners in the area informed on their options for avoiding foreclosure. If you are struggling to make your monthly payments or are already behind please give me a call or fill out a contact form on my website to discuss all of the options for your underwater mortgage.

In my blog today I wanted to give you a quick update on some recent short sales at Wells Fargo Bank and how their short sale process has changed over time. We have had numerous clients over the years with a first or second mortgage reach out to us in order to determine if a short sale is their best option for avoiding foreclosure. Wells Fargo has always worked very diligently to improve their short sale process and help homeowners find a solution to their real estate problems. Wells Fargo is also working with homeowners to get these short sales finalized by the end of the year in order to qualify for the Mortgage Debt Relief Forgiveness Act. This Act of Congress expires at the end of the year and essentially makes the short sale process a tax free event for most homeowners. Wells Fargo always wants to avoid owning your home through a foreclosure and therefore is in favor of the short sale process. When a homeowner enters in to foreclosure the bank then becomes responsible for paying the bills, mowing the yard, and keeping things neat and tidy. In the long run this decreases the value of the property for the bank as they pour money in to it after foreclosure.

If your mortgage is upside down with Wells Fargo please give me a call to discuss all of your options to find out what is right for you. While a short sale may not be your best option there are numerous options for avoiding foreclosure. Thank you for your time today and I look forward to helping in the future with your real estate needs.