I wonder, I wonder how many (nameless) banks are out there refusing, as a matter of Principle, yet cutting off their nose to spite their face:
Behind on their mortgage and forced to move to Miami-Dade County for work, Reggie and Noelvis Capiro this summer petitioned their lender, Wells Fargo Home Mortgage, and its servicing company to allow a short sale on their three-bedroom, three-bath house. They found a buyer who was willing to pay $400,000, about $40,000 less than they owed on the mortgage.
The bank countered at $520,000, and the deal fell apart, according to the Capiros' agent, Dave Derrenbacker, owner of Water Pointe Realty Group in Stuart.
The Capiros lost the home to foreclosure in June, and the bank this month sold the house to a new buyer. The sale price this time: $360,000, according to Multiple Listing Service data.
In the end, the bank got paid about $40,000 less than it would have had it gone through the short sale offered by the Capiros.
The bank countered at $520,000, and the deal fell apart, according to the Capiros' agent, Dave Derrenbacker, owner of Water Pointe Realty Group in Stuart.
The Capiros lost the home to foreclosure in June, and the bank this month sold the house to a new buyer. The sale price this time: $360,000, according to Multiple Listing Service data.
In the end, the bank got paid about $40,000 less than it would have had it gone through the short sale offered by the Capiros.
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