Wells Fargo Considering Prinicpal Reductions for Distressed Homeowners

Real Estate Sales Representative with Wizards of Waz Real Estate

Wells Fargo is in discussions with the Arizona Department of Housing about joing a program that would provide a principal reduction on delinquent mortgages. The Treasury Department allocated $7.6 billion to the Hardest Hit Fund and Arizona received $268 million of this. Of course, it uses taxpayer money!

I am not in favor of the government using my tax dollars to bail all these homeowners out but, considering the trillions of dollars they are throwing away on other things, I can live with it. At least it is a step in the right direction towards a return to normalcy in the housing market.



Comments (0)