Comments on: Countrywide Short Sales – What You Need To Know http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know Debt Kid - I'm Getting Out of Debt Sat, 07 Nov 2009 01:10:13 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Surferscca http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-13#comment-21942 Surferscca Sat, 07 Nov 2009 00:44:00 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21942 ok< we have a huge mess on our hands. We recived phase 3 approval o Oct 23rd. We got a closing date of nov 13th. We where told by the sellers agent that the tennants would vacate by nov 8th. we put in our 30 day notice on our current apartment and schedualed apprasials and home inspections. On tues nov 3rd we arrived at the house for the appraisal, the tennants had no idea we where comming nor had they recived any eviction notice. The owner of the house had come by early to collect rent on monday and collected a full months rent and never informed the tennants of what was happening. now we have till the 29th to vacate our apartment and the tennants still have not recived notice. We have already had inspections and apprasial done and have paid $800 for them. We have also been told by our agent that there is a back up offer on the house from the tennants. To top it all off we locked in our intrest rate and have 30days to close or we are penelized 1.5 points on our loan. My question is, do we have any legal recourse to get our money back for the inspection and appraisal and who is legally responsible for notifiying the tennants to move. I know the tennants have renters rights and have up to 60 days to move. What are our rights as buyers and who is legally responsible for giving us false information? ok< we have a huge mess on our hands.
We recived phase 3 approval o Oct 23rd. We got a closing date of nov 13th. We where told by the sellers agent that the tennants would vacate by nov 8th. we put in our 30 day notice on our current apartment and schedualed apprasials and home inspections.
On tues nov 3rd we arrived at the house for the appraisal, the tennants had no idea we where comming nor had they recived any eviction notice. The owner of the house had come by early to collect rent on monday and collected a full months rent and never informed the tennants of what was happening. now we have till the 29th to vacate our apartment and the tennants still have not recived notice. We have already had inspections and apprasial done and have paid $800 for them. We have also been told by our agent that there is a back up offer on the house from the tennants. To top it all off we locked in our intrest rate and have 30days to close or we are penelized 1.5 points on our loan.

My question is, do we have any legal recourse to get our money back for the inspection and appraisal and who is legally responsible for notifiying the tennants to move. I know the tennants have renters rights and have up to 60 days to move. What are our rights as buyers and who is legally responsible for giving us false information?

]]> By: Stressed Out http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-13#comment-21933 Stressed Out Fri, 06 Nov 2009 20:15:27 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21933 HI, We put an offer on a house at the end of August. We got confirmation back that they recieved all the paperwork 2 weeks later...(it was delayed a little because the listing agent needed to resend the HUD-1) and was even assigned to a level 1 negotiator in early to mid Sept. Now it is the beginning of Nov and they still have not ordered a BPO or an appraisal. I read the BOA site and it stated that it will only be ordered if they think a short sale can actually occur. Now we really love love love this house. We have looked at a ton of others and nothing really compares. We have tried to call the listing agent to put pressure on her and she keeps saying that she is calling a leaving messages, but never has a response. and then goes on to say how bad it is over there ect....Any suggestions? We have already asked to be added to list that can call but they have said no. We offered above the lisitng price, so it is not like it is a low-ball offer. Does anyone have any suggestions or does it look like this house won't go through because they haven't even ordered the BPO? We got a decent offer on our house and have a 2 month rent back. I just don't know if we should sell if this house will take more than 3 or 4 months......(the pain of moving into a rental until we figure out if we will even get this house) AGHHHHHHH! HI,

We put an offer on a house at the end of August. We got confirmation back that they recieved all the paperwork 2 weeks later…(it was delayed a little because the listing agent needed to resend the HUD-1) and was even assigned to a level 1 negotiator in early to mid Sept. Now it is the beginning of Nov and they still have not ordered a BPO or an appraisal. I read the BOA site and it stated that it will only be ordered if they think a short sale can actually occur. Now we really love love love this house. We have looked at a ton of others and nothing really compares. We have tried to call the listing agent to put pressure on her and she keeps saying that she is calling a leaving messages, but never has a response. and then goes on to say how bad it is over there ect….Any suggestions? We have already asked to be added to list that can call but they have said no. We offered above the lisitng price, so it is not like it is a low-ball offer. Does anyone have any suggestions or does it look like this house won’t go through because they haven’t even ordered the BPO?
We got a decent offer on our house and have a 2 month rent back. I just don’t know if we should sell if this house will take more than 3 or 4 months……(the pain of moving into a rental until we figure out if we will even get this house) AGHHHHHHH!

]]> By: Moose http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-13#comment-21818 Moose Sat, 31 Oct 2009 16:18:41 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21818 Our 1st offer was rejected after 2-3 weeks. We upped the offer and that one took about 1.5 months until final approval. The looming foreclosure date wasn't necessarily all good b/c we kept having to request extensions of the date and that was a bit nerve-wracking and uncertain each time. Our 1st offer was rejected after 2-3 weeks. We upped the offer and that one took about 1.5 months until final approval. The looming foreclosure date wasn’t necessarily all good b/c we kept having to request extensions of the date and that was a bit nerve-wracking and uncertain each time.

]]> By: HANGINTHERE http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-13#comment-21806 HANGINTHERE Sat, 31 Oct 2009 03:13:49 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21806 @ Moose, way to go! how long did that take, looks like you hit it right getting one that was close to foreclosure. @ Moose, way to go! how long did that take, looks like you hit it right getting one that was close to foreclosure.

]]> By: Moose http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-13#comment-21801 Moose Fri, 30 Oct 2009 17:34:18 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21801 GOT THE LETTER TODAY WOOHOO GOT THE LETTER TODAY WOOHOO

]]> By: Moose http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-13#comment-21795 Moose Thu, 29 Oct 2009 21:58:10 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21795 Got the unofficial verbal/email approval middle of last week. Was supposed get the formal approval letter in the next 3-5 business days but still nothing. Is it usually the 2nd negotiator who sends this via email? Any trick to getting this sent quicker? Got the unofficial verbal/email approval middle of last week. Was supposed get the formal approval letter in the next 3-5 business days but still nothing. Is it usually the 2nd negotiator who sends this via email? Any trick to getting this sent quicker?

]]> By: Moose http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-12#comment-21792 Moose Thu, 29 Oct 2009 18:41:55 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21792 If the short sale hasn't been approved then you don't have any deal yet, simple as that. The sellers could be "ready" to close today for all they care, and you could be "ready" to move in, but unfortunately it's a multi-step process you have to go through to get it approved first. If the short sale hasn’t been approved then you don’t have any deal yet, simple as that. The sellers could be “ready” to close today for all they care, and you could be “ready” to move in, but unfortunately it’s a multi-step process you have to go through to get it approved first.

]]> By: Dreamer http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-12#comment-21784 Dreamer Thu, 29 Oct 2009 04:01:20 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21784 Hi, everyone I just have a quick question Im going through the short sale process and my attorney called me and said that the sellers will be ready to close by November 15 but my realtor said he hasnt heard anything about the short sale being approved. So is this my house or not? Am I going to close on the 15? Hi, everyone I just have a quick question Im going through the short sale process and my attorney called me and said that the sellers will be ready to close by November 15 but my realtor said he hasnt heard anything about the short sale being approved. So is this my house or not? Am I going to close on the 15?

]]> By: The Short Sale Guy http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-12#comment-21781 The Short Sale Guy Wed, 28 Oct 2009 17:17:33 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21781 Yup, walk away. That aside, no, it's the responsibility of you or your agent or the seller or their agent to get the second to take CW's offer. A very common number these days is $3000 to the second. You can ask CW to extend, they'll likely ask you to pay money up front - I'd suggest you don't. They still may extend. BTW, make sure your title insurance company is okay with clause #10 in CW's approval letter -- if it's there. Yup, walk away.
That aside, no, it’s the responsibility of you or your agent or the seller or their agent to get the second to take CW’s offer. A very common number these days is $3000 to the second.
You can ask CW to extend, they’ll likely ask you to pay money up front – I’d suggest you don’t. They still may extend.
BTW, make sure your title insurance company is okay with clause #10 in CW’s approval letter — if it’s there.

]]> By: The Short Sale Guy http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know/comment-page-12#comment-21780 The Short Sale Guy Wed, 28 Oct 2009 17:12:48 +0000 http://www.debtkid.com/countrywide-short-sales-what-you-need-to-know#comment-21780 BOA has 3 levels so you still have one more to go. BOA has 3 levels so you still have one more to go.

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