Countrywide's Dragging Their Feet - Help!
I have a sweet short-sale deal, however, I'm having a tough time getting Countrywide to fax me the "short-sale package". The auction is in a week which is no problem but I want them to move faster. It's been a week. I sent an offer 50% less than payoff and a copy of the back taxes, 3 comps and a letter via fax. They have all my info. What can I do? Are they sitting around the office laughing at my offer. Also, I asked my contact to give me their emai address so I could send some really bad pics of the house (inside and out but he said his super would be in contact. NOW WHAT? <IMG SRC="images/forum/smilies/icon_confused.gif"> [ Edited by robpaddock on Date 02/11/2004 ]
My suggestion - call them back and inform them of the urgency of the situation. Is your offer MORE than the summary final judgement (auction) amount? If it is, you can use that as a reason. Call until you get someone who will act. inform them the auction is soon, etc, etc, etc Good luck
I second that. I just went to a forum on short sales given by my local REI, and he said they will drag their feet... Call them back. Make sure you have a direct contact number and email and fax. Make them move...
Call them and leave a message. When they don't return it call them back again and say you're not sure if they've received your message. Try calling at different times of the day to see when the best time to catch them is. The main thing is to keep calling. Get someone on the phone.
Ryan J. Schnabel
The squeeking wheel gets the oil. You need to be persistant---but polite.
This lender is giant sized. There are hundreds of foreclosures, demands, threats, and supplications made to this foreclosure dept every day--day after day. How long do you think it takes for an employee at Countrywide to become immune to all demands? Persistance.
All of the above is true. With larger lenders like this one, it isnt as simple as getting a yes or no from one person. In pre-foreclosure you will need to contact the loss midigation department, the guy in charge of the loan will then take your offer to the head of the foreclosure department. This guy will then take some time to get to it and when he does he will look at the facts and finally make a decision. It is not uncommon for a lender like this one to take anywhere from 2 to 4 weeks. Like everyone else said, you can only be persistant, polite, and patient. If time is not on your side, there are a couple tricks you can try to extend the Sheriff Sale. You can file a couple $100 mtgs with the homeowner, or if the homeowner is thinking about filing bankruptcy, that will delay the Sale as well.
I hope I was able to help and good luck with your shortsale.
you said it was a sweet deal. Maybe cw knows this also and feels they will get more it they just let it go to auction.
One week until the auction and you have not yet gotten the short sell package? Are you talking to a particular rep? Anyone can FAX you a short sell package. Just keep calling back until you find somone will FAX it to you.
Brenda