I have just closed another short sale with Countrywide; I know you have heard lots of horror stories about countrywide short sale approval. This is one of the few lender which takes longer time to get approvals on short sale, normally they take anywhere from 6-8 months and longer in some cases.
My short sale with Countrywide approved in half the time, it took only 3 months for the approval. It wasn’t bad, dealing with them as I heard in the past with some other agents. Well, this is one of the longer times as compared to my other short sale approval with other lenders.
When I received a call from this San Jose homeowner and mentioned that their lender is Countrywide, I thought to myself “Oh! No! Should I take this listing or refer to someone else” Well, I accepted as challenge and not only that, I really wanted to help this family to avoid from foreclosure.
I had received the offer (multiple offers) for this house in just couple of days and sent the best offer to lender for their approval. After couple of weeks, when I called them, they had mentioned that they already asked their appraisal company for appraisal but it didn’t happen even after couple of weeks. I called the lender next week and asked the status on appraisal and their representative said “their system is not showing the appraisal order for this house, no one even placed the order for the appraisal”. The representative was very nice, she checked with their appraisal company directly and placed the order for us after confirming with their manager. Finally, their appraisal company sent someone for appraisal the next day itself.
Our offer got accepted and approved in couple of weeks after their appraisal and we were so excited and I called the buyer’s agent to inform this good news but guess what! That buyer backed out because “the entrance door of this listing was facing South and which is not good for them” –Wow!! I’m not sure, why they had waited this long to inform us and why they didn’t check before writing the offer, this is one of the simple thing to find out in the beginning itself. Well, I put back on market and received the offer next day itself and we had received higher offer than the last offer. Again, submitted the offer and within 2 weeks, I have received the approval letter and this time we closed the escrow with no problem.
I’m really happy that I saved one more family from foreclosure. My goal is to save as many families as possible from foreclosure. Well, this is the time, families like them need more help in selling their house so that they can start a new life, build up their credit and not worried about harassing calls from lenders or foreclosure on their credit.
If you are in bay area and your lender is countrywide or any other lender and thinking about short sale, please give me a call at 510-366-9405 to see if you qualify for short sale.
If you or anyone you know in the bay area that are facing foreclosure or having difficulty and would like my help, please contact me directly at 510-366-9405 and I would be happy to assist you in any way I can. Thank you for reading my blog!!
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