Wells Fargo May Still Be Practicing Robo-signing Even After the Foreclosure Settlement

It appears that Wells Fargo just doesn’t get it.  A little over a year ago, action was taken agains 8 of the largest mortgage loan servicers for “unsafe and unsound” (is that a nice way to say “fraudulent”?) foreclosure practices.  Wells Fargo was one of the  mortgage servicers who were participating in these “unsafe foreclosure actions” otherwise known as the “robo-signing scandal”.

Banks Agree to Pay $25 Billion in Foreclosure Settlement

Just a few weeks ago, a judge ruled in favor of a $25 billion dollar foreclosure settlement against the banks who were participating in these practices.  The banks who agreed to the settlement were Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co., Citibank, and Ally Financial Inc.

The Wells Fargo Foreclosure Factory…

 MSNBC.com recently reported that Wells Fargo’s foreclosure department in Charlotte, NC were still practicing robo-signing with entry level employees signing off as VP’s.  Really, Wells Fargo???  I never recommend Wells Fargo for my homebuyer’s mortgage company, and now you’ve given me an even better reason to stay far, far away.  Read the entire article below.
Wells Fargo’s Foreclosure Factory Signing Docs as VP’s

Search Winston-Salem Foreclosures

As bad as robo-signing is, it’s a fact that many folks have lost their homes over the last few years.  Many of those homes are now bank owned REO’s and are listed on the local Triad MLS.  If you are looking for a foreclosure deal in the Winston-Salem area, look no further.  You can find them at the link below.

Search Winston-Salem Bank Owned REO Foreclosures on the MLS

I’m here to help you with buying Winston-Salem foreclosures whether you’re a first time home buyer, move up buyer or real estate investor.  I promise to work hard for you and keep your best interests first.  Don’t hesitate to contact me when you’re ready to buy a great deal on a Winston-Salem bank owned REO property.  You can call/text me at 336.287.4423.  I’ve helped hundreds of people by foreclosure properties, and I look forward to helping you too!

Realty Trac reports that North Carolina Foreclosure Filings were up over 26% from April, 2009.  The report also states that the number of filings was up over 9% from March 2010.  The Winston-Salem area (Davie, Forsyth, Stokes and Yadkin Counties) had 319 filings in April, which was up 9.6% from last year, but down 22.8% in March.  You can read the entire article from JournalNow.com at the link below.

North Carolina Foreclosure Filings Up in April, 2010

Looking for below market deals on bank owned properties in the Winston-Salem Triad area?  Click the link below.

Sign up for our FREE Winston-Salem Foreclosure HOT List!

Realty Trac reported that foreclosure activity in May, 2009 was down 16% from April, 2009 and down 35% from May 2008.  North Carolina ranked 26th in the country for foreclosures in May.  Five counties were responsible for 68% of the activity with Guilford County and Forsyth County being ranked 3rd and 4th respectively in the state.  Guilford County had 284 foreclosure filings and Forsyth County had 229 properties with foreclosure filings.  On the Triad MLS, there are currently 188 active REO’s in Guilford County, and 156 active bank-owned, REO, foreclosure listings in Forsyth County.  This would include Greensboro, High Point, Winston Salem, Kernersville, Clemmons, Lewisville, Pfafftown, Walkertown, and other communities in these counties.

Read the entire report at the link below
 http://www.realtytrac.com/ContentManagem…

As always, if you have any interest in foreclosure properties in the Winston Salem and Triad areas or other properties in the Triad, please give Tony Green, Realtor a call at 336-287-4423 or shoot him an email (listed on primary website).

The list price for 5478 Kingsbridge in Winston Salem has just been dropped $10,000 to $219,900.  This 4 bedroom home has plenty of room and is in a great school district.  This brick home was built in 1989, is on .35 of an acre, and over 3200′.  The home does need some work, however comparable homes in the neighborhood are worth $250k – $275k. Call Tony at 336-287-4423 if you would like to see it.

Wonderful custom built brick home with many special details. Master on main level, four bedrooms plus a bonus room upstairs. There is a screened porch overlooking the patio and large yard.  Priced at $567,500 with a tax value of $677,300.  This foreclosure won’t last long!  Call Tony Green, Real Estate Agent at 336-287-4423 to see this home or make an offer.

7359 Henson Forest

544 Hicks Rd. Lexington.   List price recently reduced to $404,900.  This is a bank owned foreclosure home, which has over 5000′ with 8.5 acres of land and a modern design in a quiet area.  The home has 5 bedrooms, 4 baths and was built in 2000.  Call Tony @ 336-287-4423 to find out more about this property.  Please click the link at the end of this sentence if you would like to be added to the Foreclosure email HOT list.

544 Hicks Rd., Lexington NC Foreclosure

NOTICE: This property is sold.  May 15, 2009

This is a fantastic buy in High Point listed for $157,500.  It is near move in condition and has been reduced from the original list price of $177,800.  The home is approximately 1900′, 4 bedrooms and 2 baths on .35 of an acre.  The home was built in 2001 and also has a nice size storage building in the backyard.  Contact Tony at 336-287-4423 or tony @ benhamrealestate.com to see this home priced below market value.

High Point Home for Sale on Wood Cove 27265

NOTICE:  This Property is no longer available (3-18-09)

Here is a great investor deal on a foreclosure in Winston Salem, NC.  It’s a 3 bedroom, 2 bath, and approximately 1100′.  It needs $8k – $10k in repair, and the ARV is $110,000.  Call Tony if you are looking for a good deal in Winston Salem.  336-287-4423.

NOTICE:  This property is no longer available (Jan 29, 2009)

This is a great bank owned home with a large and open floor plan.  The foreclosure is a 4 bedroom 2 1/2 bath home built in 2001 with 2800′-3400′ square feet.  It needs paint, carpet and a small area of the hard wood floor replaced in the kitchen.  As foreclosures go, it is in very good condition.  The property is very convenient to shopping, schools and other amenities.  The home is priced near tax value at $296,900 and as always, negotiable.  If you are looking for Kernersville Real Estate, call Tony to see this foreclosure listing today.

This property is for sale again. The list price is $214,900. The estimated repairs are $15k-$20k with an after repair value of $270,000. This could be a killer deal for someone looking for a fixer upper in Buena Vista, one of the best neighborhoods in Winston Salem, NC. It has great bones and just needs a little updating. Call Tony at 336-287-4423 to see this Winston Salem foreclosure listing. (See picture in previous post – Additional pictures available by request.)