Any thoughts on Countrywide

I have come across a possible short sale deal where Countrywide is the lender. I have never dealt with them and was wondering if anyone has dealt with them for short sales? What should I expect and are they difficult to deal with?


They are the holders of my mortgage and they have been a great company to deal with.

Not a short sale issue, but…

I heard at our local investors club that Countrywide is one of the few lenders who are getting aggressive about enforcing the “Due-on-Sale” clause in any mortgage they hold when it has been triggered.

A couple of investors in my town won’t do a “subject-to” deal where Countrywide is the mortgagee because is this.

Have any of you folks had a problem like this with them?

Call up Carola Hill w/ Countrywide Home Loans in Loss Mitigation
Fax: 972-608-2113
PH: 817-230-6498

She’s easy to work with.

You’ll find a lot of people in this forum and other forums who are affraid to deal with Wells Fargo and Countrywide, because they do not know how to deal with them. For instance, one of the their shortsale requirements is that the house has to be listed with a Realtor for at least 3 months. But if you’re offer makes sense, but their turning you down for this reason, then you need to get past the frontline and talk to someone who can make a decision.

As far as Countrywide aggressively enforcing the due-on-sale clause is just the rumor mill at work, and is not entirely true. Anyone should know anytime you hear someone start a sentence with the words, “I heard” makes the entire statement suspect.

Yes, I heard that’s true!

So, if you have a mortgage with countrywide, and transfer the real estate into an LLC, will that trigger them to call the loan or not?

Potentially, yes they can call the note due. Will they if they payments are being made on time, probably not.

Ya know, I heard… :bash: