I currently have a homeowner with an Auction Date of 01/04/2013, his property is worth at least 950K, he only owes about 400K to Wells Fargo, only 1 lien holder. He has commission coming in later in January in an amount of more than 200K, which he would only need 100K to bring the Wells Fargo account current and keep his home. He is opening his option to 4 ways, but really wanted to keep the home:
1. He is hoping to find a higher up in Wells to present his case and hopefully postpone the Auction Date before the commission comes in to save his home.
2. He is interested to see if anyone would be willing to lend him the 100K + a few months amount to cure his Auction status right now, he will provide proof of the incoming commission and work out a deal with you.
3. He is also willing to sale you the house now for you to cure the loan, but with an agreement to be able to buy it back once his commission comes in.
Last option: to ask Wells to postpone the Auction so that he could sale the house and pay them, but he really wanted to keep the home.
If anyone has any information that could help him or is interested in working out something with him, please contact me ASAP, anything would be very appreciated. Thanks!
His property is on Mercer Island in WA, one of the highest demand area in WA.