Comments on: Countrywide Short Sales – What You Need To Know

By: Update

Update — Fri, 20 Nov 2009 15:19:17 +0000

Just want a update from freakin BofA

By: M&M

M&M — Thu, 19 Nov 2009 13:47:18 +0000

So far it has been about three months since we made our offer on our short sale house. We spoke to our realtor two weeks ago and he said the BPO had been done and all paper work was in the hands of the negotiator. When the listing agent spoke to the negotiator he told her he had about 100 cases he had to go over on his desk. Does anyone know how long it should take from this point and also once they do a BPO don’t they have to respond within a certain amount of days before it expires?

By: Pocahontass

Pocahontass — Wed, 18 Nov 2009 18:57:27 +0000

I also have a short sale that just got approved by Bank of America but now the file is being sent to Freddie Mac, the investor, for their approval. Does anyone know how long investor approval takes? The bank told the agent only a few days, but I’m not sure. Does anyone have experience with this?

By: FRUSTRATED FRANKIE

FRUSTRATED FRANKIE — Tue, 17 Nov 2009 14:08:32 +0000

Update.

By: Moose

Moose — Mon, 16 Nov 2009 22:55:35 +0000

Closed this morning! Entire process took aboutttt 3 months. And to those who asked recently, it took about 1.5 weeks to get the written approval letter after the initial email/verbal approval. They said it would take 3-5 days… so took a bit longer than that. They were almost late approving the final HUD too… that happened literally 5 minutes before closing started… even though we sent it to them 5 days early.

By: I hate short sales

I hate short sales — Mon, 16 Nov 2009 12:52:43 +0000

Don’t do one unless you have extreme patience and no need to move out of your current place.

By: HANGINTHERE

HANGINTHERE — Sat, 14 Nov 2009 05:44:31 +0000

We got a approval 2 1/2 weeks ago… this is after a long 5 1/2 month epic, and were told we would have a letter within 48 to 72 hours. uh, maybe they meant days. still hopeful though! anyone have this experience? a friend of mine has been waiting 2 months for his letter (:

@ stressed out; we did the same thing… sold our house, the same week we put an offer on the house above, stayed in our sold house for 2 months, guess what? we’re renting a 2/1 w/family of 4 now, on our 3rd month. but as for us we love the house we put an offer on and are willing to take the pain and chance. I think that is something you have to weigh out. BTW we also looked at others, probably over 1000 on line, and nothing compares to the one we have the offer on. so… we wait. and wait. as for putting pressure on. in certain instances I think it’s appriate others it’s like you’re in the airport waiting for the plane, pressure all you want, it will get there when it gets there!

hanginthere!

By: Mets

Mets — Fri, 13 Nov 2009 13:09:46 +0000

If sending a email to the CEO of BOA – what information should I include about the property I am trying to buy?

By: I hate B of A

I hate B of A — Thu, 12 Nov 2009 22:03:05 +0000

I hate b of A and CW

By: Kathy

Kathy — Thu, 12 Nov 2009 22:01:29 +0000

I am not dealing with Countrywide but have a question I hope someone here can answer. I made a short sale offer in mid September. 2 1/2 weeks ago it got Freddie Mac approval and then they sent it to the MI company. The MI company said they needed 3 weeks. That time has come and gone (it’s 4 weeks now). The lender won’t even tell us who the MI company is. Have any of you been through this? What are the chances of them approving it? I’ve heard some horror stories about them killing short sales.