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You gotta read this....Countrywide called US today to re-open a file and do a Short Sale!

By
Services for Real Estate Pros with Short Sale Arizona, Arizona Short Sale Realtor SA634076000

Can we quietly say, "I told you so"? The sentiment of the Short Sale negotiator that got the call was a little more brash, but I'll keep it nicer in case anyone from Countrywide ever reads this post :)

I'm so lucky because I get to sit in an area of the office where I get to hear a few of the Short Sale Negotiators discuss deals with each others, share jokes, and occasionally fight on the phone with Loss Mitigators that give them grief.(I have to admit I love hearing those!)

So you can imagine how she (the negotiator that handled this particular file) felt when one of the Loss Mit reps from Countrywide called to see if an offer we had sumbitted on a file would still be in effect.....FIVE months after going back and forth on it. She was laughing after they got off the phone and high-fiving some of the other negotiators....for good reason!!

(Did we ever tell you it takes MONTHS for the banks to catch up to what the rest of us in the field already know?? This is a perfect example.)

Small sample of my day but I thought I would share...for those of you out there doing Short Sales, keep em' coming because it's only going to get better and better as the banks start to concede more on values and realized losses when they take properties back vs doing a Short Sale.

 

Business is GREAT over here!!

 

Tracy Royce

Live Free Investment Group

www.LiveFreeInvestmentGroup.com

602-957-7773

 

PS. We have a forum coming up that an expert RE Attorney is going to be speaking at, teaching the differences of doing a loan mod vs Short Sale vs Bankruptcy....FREE for homeowners and RE Professionals....but I can't really talk about it yet because we haven't released the marketing. I will blog it first so you guys know about it first though!

 

 

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Posted by Tracy "Royce of Real Estate"

Tracy (G+) is a Distressed Property Expert, Investor, Rehabber, and pre-foreclosure extraordinaire specializing in the Phoenix-metro market. She also is an avid blogger, social media enthusiast, contributor to leading Real Estate Magazines, and coach to aspiring real estate investors. Let's connect on Facebook! 

 

"Proudly serving the Arizona Investor and Foreclosure market with high-end service since 2003"

 

 

 

 

Jennifer Hillegas
Sign Your Deed Realty - Rome, GA
Every Seller Does It!

Tracy,

I have a feeling that the lenders are beginning to understand the VALUE of a REALTOR!!!!  Also I hear that more and more attorneys are conducting Forensic Loan Audits and calling the Lender's attorney's and getting the foreclosures stopped and have the lender's begging not to turn them into the feds and are all of a sudden approving the Short Sales that are taking too long to conduct!!!!  Wait times may shorten stay tuned!!!

 

Mar 12, 2009 01:03 PM
Sheila Moran
RE/MAX Access (Garden Ridge, San Antonio, New Braunfels) - New Braunfels, TX
SanAntonioSheila.com, RE/MAX Access, 210-32

Tracy,

Awesome for you guys!

Funny how you explain that story, makes me feel like a fly on the wall!

Mar 12, 2009 01:04 PM
Janie Coffey
First Coast Sotheby’s International Realty - Ponte Vedra, FL
Uniting Extraordinary Homes w/ Extraordinary Lives

Congratulations!  I will now be watching my phone for all of those calls that Countrywide is cueing up to call me with the same good news ;-) And they will have to jostle with WaMu for linetime!

Mar 12, 2009 01:21 PM
J. Philip Faranda
Howard Hanna Rand Realty - Yorktown Heights, NY
Associate Broker / Office Manager

CONGRATS...I hope it is the start of a trend. CW short sales have been nightmares.

Mar 12, 2009 01:29 PM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

Tracy, I hope you are right... I have one on the market, and I'm afraid...very afraid...I can't get them to send me a workout package..so out of the gate not feeling warm and fuzzy :)

Mar 12, 2009 01:31 PM
Gary Ricco
Coldwell Banker Realty - Seminole, FL
Tampa Bay Real Estate Specialist

Tracy,

I submitted a Short Sale Proposal to Countrywide on 2/24/2009.  Countrywide sent a letter on 3/3/2009 to my seller telling the seller the process would be completed in Less then 30 days. I'm sure the banks are realizing the best way to avoid foreclosure fees and minimize loss severity is the Short Sale.

I have 5 short sale transactions submitted to various lenders,  so far Indymac has been the best to deal with.

Konnie if you have an offer submit you package don't wait for the lender.  If this is your first short sale proposal email me i let you know what you have to send them.

Mar 12, 2009 02:05 PM
Tracy Royce
Short Sale Arizona, Arizona Short Sale Realtor - Phoenix, AZ
Royce of Real Estate - Short Sale Arizona

Thanks for your comments, it's really great to get feedback from people all over the country who are "in the trenches" and starting to see snipets of what we are experiencing too!

If you guys have any questions for me, let me know as well! I can share some of what I hear the negotiators say to get through to lenders! :)

 

 

Mar 13, 2009 07:11 AM
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.

Good for you and way to go. There will be more and moreof this as time goes on I'm sure.

Mar 13, 2009 08:42 AM