Wells Fargo Home Equity Liquidation agreed to accept $160,000.00 for the home located in Palm Harbor forgiving the remaining balance. The borrower was indebted to Wells Fargo Bank to the tune of nearly $400,000.00 and could not get any mortgage modification relief.
“This was a great opportunity for the homeowner who was moments away from filing bankruptcy,”
Currently, one in four mortgages is in some stage of delinquency. Once a mortgage payment has been missed, the lender has the ability to begin the foreclosure process. A short sale can potentially minimize the damage to one’s future loan eligibility, credit score, employment, security clearance and more.
“Unfortunately, this homeowner like many, was self employed and turned to the equity in his home to secure business loans for his failing business,” Nadler said. “My hope is to inform the community that there are dignified alternatives to foreclosure and bankruptcy.”
Jason Nadler is a Certified Distressed Property Expert with Keller Williams Realty in Palm Harbor, Florida. He has come from a background of helping distressed borrowers since April of 2007, personally assisting hundreds of homeowners to date. If you would like more information about short sales, foreclosure, or Jason Nadler, please visit his website at http://www.scarabproperties.com.