Wells Fargo has no plans to freeze foreclosures

Since the beginning of the mortgage scandal, where most large banks allegedly processed hundreds of thousands of foreclosure documents improperly, Wells Fargo has maintained that its business practices have been in accordance with the law.

John Stumpf, Chairman and CEO of Wells Fargo, released the following statement: "We are confident that our practices, procedures and documentation for both foreclosures and mortgage securitizations are sound and accurate. For those reasons, we did not, and have no plans to, initiate a moratorium on foreclosures." For more info go our website at Upside Down Home Cures.com .

What does this mean for a home owner that is behind on their Wells Fargo Mortgage? If a foreclosure is looming on your horizon, the best solution best is to talk with an experienced short sale realtor. The Short Sale Realtor can recommend some alternatives to foreclosure and point you to professionals for advice on the possible tax ramifications or deficiencies comparing foreclosure to a short sale.