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Hello All- I have used this board before and got my score into the 700s. Now I am back after dealing with a financial setback that lasted from 2011 until earlier this year. My story in a nutshell: I was going through a separation after having a baby... needless to say although I had a job (and the home was mine prior to the marriage) my finances were strapped. Fastforward a few months and I took a relocation with my company. Even with all of these changes, Wells Fargo would not allow a deed in leiu or short sale. A few months after I relocated, I received a letter that my mortgage had been sold to Selene. After hearing the details of my challenges, they cleared me for a deed in leiu that would have taken place within 60 days... during that time the home was foreclosed. Now I have Selene Finance and Wells Fargo reporting foreclosures on my credit report. Can both companies do this simoutaneously for the same property? Is there anything that I can do, outside of waiting another 7 years to purchase? Any advice that you all can offer is greatly appreciated.
I'm not a mortgage expert by any means but if WF sold the account to another finanace company I would assume the correct reporting would state just that "transfered/sold". At least that's the way it works with CC's, don't know why it would be different with a mortgage