Friday, April 17, 2009

Some banks restoring credit following a short sale

REO Guru learned Wells Fargo is sending letters to borrowers with short sales in process notifying them their credit will be saved. They state they will send a letter to all three credit bureaus following the successful short sale and the borrower's credit will be "restored within 90 days." This is a decent move by a strong bank. Hopefully more will follow suit.

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