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How Many Countrywide Short Sales in Review?

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 the Emerald Coast of Florida: Destin, Fort Walton Beach, Niceville, Navarre, Santa Rosa Beach, Sandestin, Rosemary Beach, Sandestin, Blue Mountain Beach, Crestview, Mary Esther, Bluewater Bay, Shalimar and vicinity.

Call 850-650-7883 or 1-877-487-9639.

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Posted by Wendy Rulnick "Its Wendy!" Destin Florida on 06/25/2008 11:55 AM

Comments (14)

countrywide short sales, countrywide short sale process, destin short sales, destin pre foreclosures

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14 Comments on How Many Countrywide Short Sales in Review?

A few months ago, I was told that each rep has an average of 400 files on their desk, each one awaiting short sale approval.

Now, I've been told that each rep has about 1,500 files on their desk. The lenders all claim to be trying to hire more people...

06/25/2008 12:00 PM

by Don Fabrizio-Garcia - Connecticut Real Estate & Appraisals (Keller Williams CT Realty)

No wonder we can't get any answers and run out of patience on these darn short sales

06/25/2008 12:03 PM

by Tim Haight e-PRO (Hawkins and Assoc Realty Inc)

here is a helpful number for you .. Countrywide's short sale hotline, staffed by 80 people:

(866) 880-1232

06/25/2008 12:20 PM

by Robert Rauf (REMN The Real Estate Mortgage Network)

Build it and they will come :)

06/25/2008 12:57 PM

by Chris Giddings (Realty Executives of Nevada)

Wow, what a bunch of short sales for countrywide. No wonder ittakes them so long to get back to us.

06/25/2008 01:03 PM

by Mike Jackson (Realty World Global)

I can see many more in the not so distant future. Heres hoping it doesn't hurt the economy any more than it has already-

Bill

06/25/2008 01:03 PM

by Bill

Thank you Bill, Mike, Chris, Robert, Tim, Don for commenting. The statistic was given to me today by Countrywide rep!

06/25/2008 01:22 PM

by Wendy Rulnick "Its Wendy!" Destin Florida (Rulnick Realty, Inc.)

Keep in mind that the number sounds huge, but countrywide is a HUGE lender... the largest in the country with over a TRILLION in its portfolio. I forget the exact number but it is somewhere around 16% of all residential loans in the country. Once BofA is combined with it it will be about 25% of all loans.

06/25/2008 02:39 PM

by Robert Rauf (REMN The Real Estate Mortgage Network)

I have two Sellers trying to sell there home short sale with countrywide. Last week they both advised me they sold the mortgage to Flag Star bank? Anyone have some insite to dealing with Flag Star Bank on a short sale? As I will start the process with them on monday. I would think this is good news..

06/28/2008 09:31 AM

by Joe Knows Southwest Florida. Fort Myers. Cape Coral. Foreclosures (Sandals Realty, Phone 239-560-0726 )

Robert- Thank you for the further statistics. I wonder if there are 100,000 Short Sale files in review with all lenders, probably more.

Joe- I've never dealt with Flag Star. Try an ActiveRain search. Good luck!

06/28/2008 10:00 AM

by Wendy Rulnick "Its Wendy!" Destin Florida (Rulnick Realty, Inc.)

HA HA. Great post! In some sick way that brings a laugh to me. Lets hope that at least these 27,000 homeowners are getting a little reprieve on their foreclosure proceedings as well.j

06/28/2008 11:36 AM

by Josh Holt (RE/MAX Coast To Coast)

Josh - At least they're getting a "delay"!

06/29/2008 09:50 AM

by Wendy Rulnick "Its Wendy!" Destin Florida (Rulnick Realty, Inc.)

The delays are actually helping the homeowners stay in their homes longer. So that is a relief to some. The delays are exhausting and by the time they get back to you... the buyer has walked.

I have one now that has been delayed several months, several buyers have walked and now we have a buyer that says they will wait and I believe the offer is solid. Now Countrywide might see it all different and blow yet another deal.

Maybe I should try to get a job at Countrywide as a negotiator!!! Wonder what they pay?

07/06/2008 12:11 PM

by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)

Rosemary- The negotiators don't get paid enough! If they did, the system would be better!

07/07/2008 07:56 AM

by Wendy Rulnick "Its Wendy!" Destin Florida (Rulnick Realty, Inc.)