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Wells Fargo / Freddie Mac Short Sale Update

February 19, 2010 by admin · Leave a Comment 

Wells Fargo / Freddie Mac Short Sale Update 2/18/2010: We just closed a Wells Fargo short sale (Wells Fargo 1st & Wells Fargo 2nd) by convincing Freddie Mac, the investor behind the 1st lien, to agree to allow the buyer to bring in extra funds to settle the 2nd lien. This is significant as Freddie Mac has a policy whereby they will not allow any extra funds to go to the 2nd beyond what they are giving them. This took an extra month to negotiate but hopefully will set a precedent for future transactions.

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Matt is the CEO, Broker & Lead Listing Agent for the Battiata Real Estate Group. He was named the #1 agent in California & #5 worldwide in 2001 (RE Int.), was featured in the book "Billion Dollar Agent" by Steve Kantor and has been the among the top selling agents in Southern California.

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