Recently in a Short Sale our Team were trying to complete here is how it finally played out. I am writing this to show the public what the Banks are doing in the real estate market place over and over and just hurting the entire system and making this Recession take longer to get out of.

The first, Freddie Mac approved the short sale after close to 90 days.We then went to the 2nd note holder with the 1st note holders approval. Then the 2nd demanded 10% of what was owed Wells Fargo had the 2nd.

The buyer then said they would pay the difference." A Cash Transaction" No appraisal contingency" So then the First Note holder comes back and says our Guidelines say the 2nd note holder is only allowed to receive 3,000 Dollars from the 1st and if they receive more From the buyer or seller then we too want the same amount being given to the 2nd note holder So Who do you think is wrong?

Answer: Both Freddie Mac and Wells Fargo.

They Both simply just caused another Foreclosure to happen by following there guide lines and Wells Fargo by not accepting the fact that being the 2nd note holder they accepted 2nd position so therefore accepted more Risk and should accept the 3,000 Dollars that was being offered instead of blowing up the whole transaction and getting nothing just creating another hit to the system. What are your Thoughts?