Just got my authorization to release info form from my seller. Big and expensive house on the beach! Big money if it works out.
Both notes are carried with countrywide. I have heard bad things about dealing with countrywide on SS.
On that note, does anyone have any tips in working with them? Or does anyone have a countrywide SS packet in hand they could shoot to me so I can come to the table with necessary info in hand? I will try and dig up the number for the loss mit folks myself, but if you have that handy…
I attempted a short sale with Countrywide a few months back and they were very slow. It took them 2 months to schedule the BPO. By this time the duplex was vandalized over and over. The location was inner city and I tried to convey this to the loss mit rep with no success. My suggestion would be to call at least once a day to keep your loss mit rep moving. If you don’t like how things are progressing, escalate the matter to a manager.
Just sent in my SS package to them yesterday morning. The number to their Loss Mit Dept is 800-262-4218. Items needed in the package are as follows:
Hud-1
Purchase Agreement
Tax Return-HO
Last Bank Statement-HO
Monthly Budget( Completed by HO)- Gross and Net Income as well as all budget categories
Letter of Hardship
List of Repairs
These are just the intial things needed to get the process going. Stay on them it took a week for the authorization to release to go through.
If the foreclosure is approaching, put the foreclosure date on each page. CountryWide will speed the process. I negotiated with them with 1 week left on the foreclosure. I could not get it through though because my short sale package was missing some items (were faxed to the wrong fax number at countrywide) and they don’t mind taking back inventory so the property was lost.
In another instance, the seller pegged them to stop the foreclosure because “their” church will be collecting donations and will bring their back payments current. Once it was stopped, I stepped in and brought it current.
It really just depends on the loss mitigator.