Belt Auction

the bank will not do the short sale on my home and it is recking my credit?

almost three month ago we got a cash offer on are house, but it is about 10,000 short the bank keeps jerking us around wait till it goes to auction on dec 17, they must think that the house will go for more than 65,000 In that area they will be lucky if any one show up to bid on it or the fact that most people can't get a loan right now. So when wellsfargo comes after me for the 70,000 can i counter sue them and say they had 65,000 on the table and they dropped the ball. but i can on mine

Public Comments

1. No...you can not counter sue them on THEIR damages.
2. Of course you cannot sue them. It's your debt and you are responsible for it. If you had coughed up the measly little 5 - 10 grand, it would have gone through. Pay your mortgage. It can't be all that much for such a cheap house. BTW, if they had allowed the short sale, you would have to pay income taxes on the amount you were "short." Since that would likely have thrown you into AMT -- 50% income tax. Pay Wells Fargo or pay the IRS! But you will pay one way or the other.
3. You are suing them? They are the victims here, not you. You are the perpetrator of the issue. They are suffering the loss, you have a gain. You wrecked your own credit trying to screw Wells Fargo, you can't put the blame on them. They held up their end of the deal, they gave you the money to buy the house.
4. your credit was wrecked when you went behind in your mortgage hey 10K is 10K. No you cannot file suit against them, they hold the note they can decide whether they want that loss or not. That loss will be yours though in the end. You dropped the ball not them. Guess you will be renting soon, if your credit is good enough to get a place.