countrywide short sales: Countrywide PMI Short Sale Strategy - 08/24/08 11:40 AM
This week I've had one of the best Short Sale experiences with a company to date. That is- United Guaranty, a mortgage insurance company. I have a Short Sale in Destin, Florida. The property, a condo, was purchased in 2005 for $580,000. Today, it is worth around $270,000. My seller … (4 comments)
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countrywide short sales: Countrywide Short Sale: Here's The Drill - 08/21/08 08:55 AM
I know everyone likes to complain about Countrywide Short Sales, but you know what, I like them. They are consistently inconsistent. I've had approvals from them in five weeks, without even a phone call from the negotiator, to five months, after them losing information, switching negotiators four times, and forgetting to order BPO's. At … (2 comments)
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countrywide short sales: Notes From A Short Sale - 07/31/08 02:38 PM
I just had another Destin Florida short sale approved. Following are my notes starting with the most recent going back to the beginning of the Short Sale Approval Process with Countrywide. This might be useful to show buyers' agents and potential buyers to help them understand some of the processes the listing agent goes through to get … (13 comments)
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countrywide short sales: Short Sale Promissory Notes: Getting More Common - 07/24/08 08:16 AM
Do you have a Short Sale with a second mortgage? Or perhaps PMI involved? Or Fannie Mae? Two of my Destin Florida real estate sellers have recently been asked to pay up. Here's the scenario:
Santa Rosa Beach FL Short Sale:
Owes $325,000 on first - Everhome Mortgage
Owes $90,000 on second - … (40 comments)
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countrywide short sales: Countrywide: Just the "FAX" Please! - 07/01/08 05:57 PM
Remember when you were little, there was a game when you'd whisper something in someone's ear, and they would whisper it to the next person, etc, and by the time it got to the last person, the story had changed? Well, it still happens in the grown-up world, and it's pretty scary … (15 comments)
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countrywide short sales: How Many Countrywide Short Sales in Review? - 06/25/08 11:55 AM
If you are working on a Countrywide Short Sale you may want to know that as of today:
Countrywide has 27,000 Short Sale files in review.
Best of luck with your approval!
It's Wendy!
Wendy Runick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Specializing in SHORT SALES and FORECLOSURES on … (14 comments)
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countrywide short sales: Two Approvals! - 05/09/08 05:02 PM
I received two Short Sale approvals- one today and one yesterday- from Countrywide and ASC/Wells Fargo. It's going to be a good weekend!
1. ASC/Wells Fargo: Package was submitted on February 22. It took ten weeks, about 2.5 months for approval. The offer was countered early on.
2. Countrywide: Submitted on March 2, only … (11 comments)
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countrywide short sales: Short Sales With Countrywide* Important News Bulletin* *UPDATED* - 04/04/08 10:03 PM
If you are in the process of a short sale with Countrywide here is some Important News For You!
Our in house attorney was just given written notice that Countrywide's Short Sale and Foreclosure departments have just shut down operations temporarily for 20 days for restructuring. On Countrywide's time table that probably … (35 comments)
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countrywide short sales: Countrywide Short Sale Closings: Never Give Up! - 03/27/08 05:24 PM
Background: Countrywide Short Sale Approved to close by March 28.
March 27- Day before closing: Buyer is approved by his own lender for closing, but lender package will not be ready until April 2, past Countrywide deadline.
Wendy Rulnick to Countrywide: "Buyer's lender said they are backed up. Cannot close by your date, … (4 comments)
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countrywide short sales: Countrywide Short Sale: Case Study - 03/01/08 12:30 PM
Following is a case study of a Countrywide short sale negotiating process.
Property: Single family home in Navarre, Florida- an investment property with tenants
Seller Hardship: Rent does not cover mortgage payment, medical, job loss
List Price: $142,000
Seller Mortgage: $188,000
Offer: $135,000
Countrywide Appraisal: $152,000 (higher than list price)
Buyer Counter: … (51 comments)
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countrywide short sales: Per Diem Penalty- Forget About It! - 02/01/08 09:32 AM
Short Sale lenders don't always enforce the per diem penalty should the buyer not close on time. I just had a Countrywide negotiator in a panic when I told him the buyers were walking, tired of waiting so long. He emailed me back and offered up "We'll drop the per diem and give … (12 comments)
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