I know that anyone involved in a shortsale with Countrywide Mortgage is chuckling as they read this blog title. However, I know that Countrywide is trying to change their approach to the shortsale. I am involved in one where the original offer was submited in November, 2007. Now I know you are thinking that that has closed already. In fact we have managed through amazing odds to hold onto the buyer...and no...it hasn't closed yet. In fact the offer is still not offically accepted though verbally it was intimated almost 30 days ago that it was acceptable. This is an offer higher than the lowest appraisal (there were 3) and exactly the amount of the middle appraisal...and Countrywide still sits on their hands! Is it any wonder why everything is going to heck?
Now Countrywide's negotiator promised within 3-5 business days to get back to me and get this deal accepted. That was almost 30 days ago and the only person calling is me. They don't answer emails or phone calls...
Now Countrywide yesterday has a new name (and phone number too) for me to deal with. During this period (somehow) Countrywide realized that they had to restructure their short sale department to speed the time it takes to acept an offer. I mean 5 months normally is too long...RIGHT?
What else can I say...Countrywide Mortgage...you really do need restructuring. I don't think I could go through this process again. BTW I think everyone in their shortsale department is in India now...not that that is a bad thing!