Legal Question in Real Estate Law in California

I own two investment properties in TN. I tried to short sale them, but Wells Fargo made it difficult. They set a foreclosure sale date many months ago on one of the properties. They told me I did not have time to submit additional info. to delay foreclosure, so I assumed they foreclosed. Recently found out that they have been postponing the sale date every month for many months. Now it is Jan. 4. They took the second property out of foreclosure entirely! I asked them, "Why?". Stated that the necessary paperwork was not completed & told me to call their attorney. Their attorney told me the same thing but refused to specify what the necessary paperwork was! I formed an LLC, and had transferred title of the properties to the LLC. They wanted me to put them back in our name for the short sale. Is this why they have not foreclosed? What else could it be? Should I continue to try and short sale? Should I transfer title out of the LLC? Thank you!

Asked on 12/07/11, 11:47 am

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This is not a California legal question. It is a matter of TN law.

Answered on 12/07/11, 4:07 pm

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