Constuction loan totaly went bad
I got a construction loan in 2006 which was to turn into a mortgage, the loan was to be for one year, but went over 30 days. Wells fargo reapraised the property which came short 52,000. they didn't for close but continue loan. year latter house is worth 125,000 with a lose of 125,000. now the are foreclosing because i ask for a mortgage or short the loan to what the house is worth. I feel if they turn the loan to a mortgage i would assume the lost now i have no options. because the waited to long. Well Fargo will lose much more by fore closing, I still want my house and they will not negotiate with me. Its in possible to get a mortgage on a home for $252,000 when the value is $125,000. if that. The house is in Florida 16467 Lagore Ave Port Charlotte
Thomas F. ... Thomas F. Foley "ThunderousTom" October 25, 2005. Overall: 5. Overall: ... Thomas F. Foley "ThunderousTom" Location: Sayreville,NJ USA. New ...
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