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Funny Business
Text Size 
THE FISHERS ARE OFF TO ALABAMA
 |
Billy Wynn, RE/MAX OTB Estates Fisher Home |
They managed to find a buyer for their home willing to pay more than what they owed Washington Mutual [WM
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()
] on a first mortgage, and Wells Fargo [WFC
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()
] on a second, except they couldn't cover $35,000 in closing costs, and the home was heading into foreclosure.
(Contd.)
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CNBC Special Report:
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Good news. Wells Fargo has agreed to a short sale and come away with $35,000 less than it's owed. Not an ideal situation, but better than forcing the house into foreclosure, which could mean even greater losses.
The realtor tells me the escrow company says it's the quickest approval of a short sale it's ever seen.
One down, one million more troubled homes to go.
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