Orlando Real Estate

Countrywide Short Sale Saga

March 11th, 2009 2:06 PM by David W. Welch

I am currently working on two Countrywide short sales, and I have to say that I have yet to determine that any kind of procedure exists. I have faxed a short sale package on one of my listings four times, and each time I have been given a different excuse as to why they don't seem to have it. I have been trying to open a file with them for the short sale since February 11, 2009. I sent the package to them again on February 18 after being told that they were really busy at the beginning of the month and a lot of the files were lost. The next time I called, I was told that I had to re-send the third party authorization because they could not speak to me. I re-sent that, then on March 3, 2009 I sent the package again when I was told that they had the third party authorizaiton, but the file had been closed. They said the file was closed because I did not return their call that they never made. On March 10, 2009 I called and was told they still did not have a file in the short sale department, but I should re-send the package because they had gotten very behind with their scanning of documents. I was also advised to call back today in case the fax from last week was finally processed into the system. Today, March 11, 2009 , I called and was told that the file was opened back on March 6, 2009, but there is nothing in it. This time I was advised that their fax machine has been dropping faxes over 20 pages. I was told to resend the package (38 pages) as two faxes. I was also advised to call back tomorrow in case the fax I sent yesterday actually went through.

If you are working with Countrywide on a short sale make sure you put the account number on every page of the package. I put it right at the top of each page very prominently. Make sure you are sending it to fax number 888-491-4947. Before you send the package, make sure you send just the third party authorization to the third party authorization fax number which is 805-520-5019. They recommend sending this in two days before you send the package to the short sale department. Make sure you include the third party authorization in the package you send to the short sale department, because their system does not have access to the third party authorization department system. After you send the package call early and call often. The phone number is 866-880-1232.

I hope you find some of this useful, but the only information I know actually works are the phone and fax numbers. Personally, I think they need to take their TARP funds and buy some more toner for their fax. I know that I am the RealEstateOptimist, but it is getting difficult to be optimistic about Countrywide's ability to handle short sales.

David Welch, Real Estate Optimist

Posted in:General
Posted by David W. Welch on March 11th, 2009 2:06 PM


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