Update on Countrywide home loan short sales:
We have had much success in dealing with Countrywide Home Loans. And we will still help you with your Countrywide Short Sale. If you need help feel free to visit our site for more help on a Countrywide Short Sale.
Did you hear the most recent news though? Countrywide is now going to add verbiage to their short sale approval letter allowing them to RESCIND THE SALE OF SHORT SALE ON THE PROPERTY if they determine there was any fraud involved. Can you imagine being the buyer and thinking everything was fine & then 5 years later (statue of limitations on fraud - from date of determination) finding out that they were rescinding the closing? Crazy. And, Title Insurance specifically EXCLUDES coverage for this type of issue.
Previous post:
I no longer handle short sales through Countrywide. As an experienced short sale listing agent, I've had enough. I'll still help you with a short sale through ANY OTHER LENDER. Just not COUNTRYWIDE.
Read my story about why:
Countrywide short sales - a story
Enjoy.....WHY/HOW are they still in business? Oh yeah, thanks to Bank of America...ya, go B of A! :P
copyright 2008 Susan Milner
Florida Future Realty, Inc.
Yours in Success,
Susan Milner
Florida Future Realty, Inc
http://www.YouTube.com/FloridaFuture
(239) 542-8521
Susan@SusanMilner.com
We also handle Cape Coral Short Sales......
copyright 2008-2012 Susan Milner of Florida Future Realty Inc
Susan,
I just had a closing with a Chase short sale. It went very smooth. I'm sorry that you've had such an issue with Countrywide. I think their hands are tied with the Bank of America deal. That's what I've been told on the commercial side anyway.
Darrell
I am in escrow on a condo, strong escrow, countrywide agreed to a price, but forgot to tell the other hand - property went to auction *()&$(#Q%{)$Q*_{}Q_)%{$#QOPRKQW
Susan, I just had CW deny a short sale last month. I had an all cash contract within 95% of market value. Not good enough. It didn't meet their predetermined value. I argued with them for 2 weeks over it to no avail. Unfortunately I have 4 more CW short sales listed.
Darrell, congrats on the Chase one. They are pretty easy to deal with. Had one close with them last month too.
Lance, isn't that special? I'm not surprised.
Bryant, I'm sending as many positive thoughts as I can toward you but um, good luck!
Susan...
I did not romp all the way over here to discuss the Countrywide/BA fiasco. That's Blog Boy's area, not mine. I'm here to discuss flowers and well wishes. The flowers were incredible. As I love fresh cuts, I excel at keeping them alive. Yours lasted just over two weeks. They were beautiful and I truly enjoyed them. When they passed away I took the empty vase and popped him in the head with it. Those were your instructions, right? :)
Thank you so much. I hope to have all of this nasty health stuff behind me before the holidays. I'm eating right. Putting on some much needed weight and with BB's help taking good care of myself. All will be well and soon I hope. The foot will have to run it's course. I'll leave my comments about that in my post. I'll be back to normal in no time, assuming of course any of us really knows what normal is :)
TLW...ROARING and thanking you for spreading the love baby...Spreading the love :)
Susan- Well I didn't get any flowers, and I don't do short sales....so what am I doing here? good question. I saw you on Twitter, and went to read your Countrywide Post. I then came here to see what you had on AR......
You have to be a OK if you hate Countrywide and sent flowers to TLW :)
TLW, I'm so glad you enjoyed the flowers. Yes, I'm glad you whacked BB ~ as I stated it was his fault they arrived so late. Although I do believe their arrival came just in time for your departure...Coincidence or more? :)
Thanks again for spreading the love, I love your love ;)
Kathy, thanks for stopping by. Sorry about the flowers. Keep me posted if you get sick, I'll get some your way. Hopefully won't have to. Thanks for stopping by. I might have resolve soon with this one. I'll have to update everyone!
Susan, you are absolutely in the right!!! It's not the greatest news for me though, just today I completed a package to send it off to Cuntrywide on a Short Sale listing that I have. :(
I am so with you on this issue! Ten dead deals this month all within a few thousand dollars close to appraisal price by bank. Cash offers denied fo no reason other than greed and an i guess high expectation from this bailout for full recovery. In a normal market the offers would have been jumped on...I have had cash offers on all properties prior to April 1, 2008...What is this _______! Another one is Aurora Loan Servicing...We are only a few of the realtors left trying to help people avoid foreclosures but our customers are having to be forced into bankruptcy or foreclosure because honest, realistic deals, are being snubbed at for no reason other than greed>>>>
Sergio, Just be persistent. This one that I'm speaking about in this story is actually APPROVED now. Should have it in writing within the hour. But it took me going all of the way up the ladder. The people that answer the phones are clueless.
Kathryn, I know it is sad. Many agents don't work short sales at all. We are trying to help. I think the banks are waiting to see what happens with this bailout money from the GOV because it has gotten weirder lately dealing with them.
We have quite a few with Countrywide too.....One of them has been out there for around months....we are on number 4 negotiator...... I agree with the insane plea.:)
Anne or Eddie: I spoke with a WONDERFUL lady there today who 'gets it'. Unfortunately, her hands are tied to their rules. Lucky for me/my customer(seller)/the buyer: WE HAVE AN APPROVAL. More details to follow once its 'closed'.
Just closed one yesterday, What a Fiasco.. Unreal in every degree... I will also have a very hard time accepting another CW short sale listing..
Susan, keep up the good work.
Susan,
Thanks for the support i am comforted that I am not the only one in this! Although unfortunately sad for those of you who are in the same boat...
Jay, the one in this story is with a selling agent @ your office. We got the offer on the 23rd of Sept, had to be approved by the 30th for their FHA financing. We ALL had to work hard on this. Once it is closed I'll be writing an update post. Should close by Tuesday. :)
Kathryn, watch for my update post with hints. It'll prove valuable.
Susan is right! It's time Realtors stop getting pushed around. You know what? There are companies out there that do it right, and yes there are still non-bank-owned or short-sale properties out there.
I think banks are so wrapped up in their desire to get into real estate and ruin our profession that they are going to make it hell for us as long as they can. But you know what? I contribute to my Political Survival Fund and we have great lobbyists, fighting to keep Real Estate ours, and so when all this short sale balogna is over, the banks will still just be banks.
Lisa, thanks for the comment. I have some solutions for the banks. That blog is coming up next.
I've had two similar experiences with Countrywide, but am not ready to throw in the towel yet.
Colleen, Good for you. Good luck with your future ones! I think you'll enjoy my follow up post. Please come back to check it out!
Susan, I believe that you owe me a referral on that one, or at least lunch. She was talking to me a few weeks ago, asked if I had what she wanted listed, I said no, but call Susan, she is great to deal with and will get it done... So where we going for lunch????
Jay, I figured you might have had something to do with that....how bout I buy you lunch next week?
What a nighmare. Have you ever done a short sale with one of the on line financing companies? No there is an experience!
Jean, no I haven't had the pleasure. Doesn't sound like fun at all.
Susan, I completely understand your frustration with Countrywide. I have multiple short sales with them and they are totally rediculous! I think everyone dreads having to work with them on a short sale. Of course the negotiators just don't care. They take however long they want to take. I have contemplated not taking anymore short sale listings with Countrywide involved. I am pretty sure they are the most hated company for short sales.
If you ever have any referrals for the Las Vegas area, keep me in mind. I specialize in short sales, but I also work with many buyers too! Hope to see you around. Take it easy!
Len,
Thanks for your comment. I will definitely keep you in mind for any Las Vegas customers. Do the same for SW Florida customers :).
I'm working a Countrywide short sale now and I haven't seen anything like what you experienced. In fact, Countrywide proactively calls and emails me with updates. Their process is far easier than other banks I've worked with.
Tish,
That is fantastic news; update us when it closes, way to go!
Countrywide is the worst..... I have 7 short sales with them and they are sooo slow, every time you call it's with a different negotiator. Last week the automated response was giving the wrong information. Only found out because I spoke with a customer service person. I also am on the buyers side of a property in Ripon that has been a short sale for 1 year and the last buyers walked when the bank countered back so we came in at what they were asking and it has been 3 months. They say they have a new policy for write-offs over $300k and it needs special approval and we should know within 5 days as of today.. Will see!!!
I just don't understand why and how this process can take this long. I know they are overwhelmed but it's just unbelievable. They should hire and train new people god knows there are people who are looking for work. How hard is it to pick up the phone and say the same thing to everyone that calls.