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Short Sales with Bank of America / Countrywide : Please share your tales!

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Real Estate Agent with Southeastern Realty Group

We are looking for agents and investors currently pushing shorts through Bank of America / Countrywide who will share their experiences. 

When you share - please include notes from recent approvals. The time it took, seller concessions granted, commission allowed, etc.... Please also include the loan TYPE, lien position, if the loan was investor backed, who the investor was, etc....  We have asked this same question on several discussion threads including the forum of our 500+ Manage My Short Sale users.  I am going to post the results in a survey style post at the end of the month.

We are full-time short sale team...and know the power of working together.   Together - we can see overall improvement when working with BOA / CW.

 

Our team has created the most comprehensive and efficient web-based transaction desk for agents or investors.  It is helping them exponentially increase their short sale approval percentages.   We want your feedback and would love to know what you are using in your office. [www.managesmyshortsale.com] www.shortsalecoachingmonthly.com

 

"Always Moving Forward"  - We wish everyone taking on this market by doing short sales - much luck!!!!

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"Keeping our readers IN THE KNOW and LEAPS AHEAD of industry changes." 

We invite Contributors - Visit the site and share with us your expert opinion or short sale case studies. Contributors will be featured and live-links to your blog will remain for the life of your contribution.

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Maria Peace
THE BROKER NETWORK OF CENTRAL OREGON, LLC - Bend, OR
MBA, GRI

I have a good story to add to the list.  Last year, I had a short sale listing with a cash buyer for $325k.  Offer was submitted to Countrywide in January, foreclosure date was March.  I regularly called to check progress with Countrywide 2x week and more and they finally rejected the offer 2 days before foreclosure date.  It gets even better now:  At the same time they were listing it on the recontrust.com website (a fellow realtor called to tell me) for $275k! and that is what they listed it for after foreclosure.  I never understood this, but it did provide a big clue on why we have such a mess.  After the foreclosure, the county records showed US Bank as the owner.  I am thinking that the investor was the factor in this case.    Is it any wonder why we have such a mess?

Sep 22, 2009 07:55 PM
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Amy Ransdell

Atlanta Short Sale~Short Sale Daily News
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Targeted to become the most comprehensive blog on SHORT SALES in existence written by leaders of the Short Sale Daily News team. Written exclusively to cover short sale information that you will not find from any other source. Agents wanting faster approvals, higher acceptance rates, better closing percentages, and a simpler, systemized, and profitable process are invited to participate, share blogs, and subscribe. We are always moving forward ....to your short sale success.

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