Standing water in crawl space for over 6 months. We took these additional pictures so the bank would know how bad things where getting at the house
This is a time line of a short sale that we where trying to do with Countrywide for a client and how badly it went due to failure on Countrywide side. Countrywide is a failure for some many reasons. They do not deserve any of our hard working tax payers dollars. That includeds Bank of America who purchased Countrywide for pennies on the dollar and now they are receiving our taxpayers dollars! The banks are cheating America's out of more money. I'm very experienced in short sales and this is the only one I have not been successful at as of today. I'm now working another short sale for a client with Countrywide and starting to have the same troubles.
Countrywide Short Sale Process- Why are the tax payers bailing out these idiots!
5/15/2008
Listed the property at 940 Lulu. Started getting history together to fax to lender
6/25/2008
Sent in pay stubs, bank statements, & letter
7/8/2008
Received a contract for $78,000 on 940 Lulu, Property listed at 82,500. Property had sold 1 year earlier for $84,900 and sellers paid buyers closing cost. Buyer did not take care of property and also ruined the new carpet that was put into prior to their purchase. This contract would have only made the lender short by $15,000 approximately.
7/9/2008
Sent in HUD statement & contract
7/23/2008
Revised HUD, appraisal, price change, listing agreement and MLS sheet sent for history
7/25/2008
All info has been received and being reviewed
8/6/2008
In work-out department since 7-30-08, will take a couple weeks
8/10/2009
Jennifer Cook is the negotiator for this loan.
8/12/2008
House only appraised for $78,000. We just closed on this house 1-3-2008 and it appraised then for 84,900 with seller paying $3000 in cost.
8/14/2008
Need FHA short sell packet - they will email it
8/15/2008
Called and left message, never received packet, also sent an email
8/18/2008
Left message
8/21/2008
Faxed Pre-Foreclosure form
8/26/2008
Contract fell through-Buyer backed out because it was taking Countrywide so long
9/17/2008
Emailed to see if FHA forms need to be completed or wait on a new contract.
9/22/2008
We sent complete packet even without an offer
10/1/2008
Emailed packet to Jennifer
11/18/2008
Sheriff sale was today
11/22/2008
Tried to Auction the home and only got an offer for $30,000. CK emailed Jennifer Cook a letter containing information about the auction and recent pictures on the home showing its condition.No response.
11/28/2008
CK offered $50,000 and wrote a contract and faxed it to the bank.
12/2/2008
Talked to Jennifer, need to contact Foreclosure Dept. 800-669-6607-Talked to Maria - told we needed to talk to REO 866-781-0029 - Told that Fannie Mae will be selling, no longer a short sell. We would have to wait until it became available with HUD, then submit an offer. The HUD Department told us since Countrywide is guaranteed to get paid on this loan since it is FHA they probably would not work to help complete this short sale.
12/2/2008
Called and asked about the redemption period with lost litigation.Was told that the file was not marked for a redemption period. Was referred to the Hope Dept, was told to send HUD, contract, Pre-approval letter, and bank statements, it could take up to 60 days
12/3/2008
Packet was sent
12/1/2008
Sellers moved out and CK turned utilities on in her name. Sheriff Sale was Nov. 18, 2008 we have until Feb 17, 2009 to get this complete.
12/8/2008
Called, was told to call back in a week
12/17/2008
Talked with Erica Martinez was told it was going to get assigned to a negotiator
12/19/2008
Talked with Bianca, a negotiator not assigned yet. It had not been changed to send to a negotiator. Was told they need the FHA packet. It will take 3-5 business days before a negotiator is assigned. Faxed the FHA packet again (originally sent 12-3-08)
12/20/2008
Team Leader, Juan Tovar has been assigned and should go to a negotiator in 10 days. I never got to speak to Juan. Ck
12/22/2008
Talked to Sharon, was told it would take 10 days to get assigned to a negotiator, once assigned it will take 30 days
12/30/2008
Called, was told it was closed for non-compliance, still did not show the FHA packet, call back in 72 hours to make sure it was received. Faxed again (for the 3rd time)
1/2/2009
Talked to Brian, still showed closed for non-compliance. Was transferred to Shauntel, FHA packet was there, it would be assigned to a negotiator. It will take 10 days. Was also told insurance expired in 30 days.
1/6/2009
Supposedly this has been assigned to a team leader per Kathy with Countrywide.
1/12/2009
Talked to Gary, said he would call with the negotiator assigned to the file
1/13/2009
CK talked to Gary Gibbs at 866-880-1232 ext. 8300 he told me by the end of business on the 14th we would have a negotiator by the end of the day.
1/15/2009
Talked with Rick, It would be 5-7 more days to get a negotiator. Was told there was no way this would be able to close by 2-17-09.
1/18/2009
Countrywide sent a company to change locks and winterize property.
1/23/2009
Finally short sale was assigned to Jennifer Cook who was the orginally negotiator on 8-5-08 who CK had also called when we got the second contract on 12-8-08 and she took us she would not get the file again and she could not help!
1/26/2009
Jennifer calls and says she don't have a complete file. Oddly she did on 8-18-08. We emailed her all the info again.
1/28/2009
Sent Jennifer updated paystubs and hardship letter
1/29/2009
Chris Minor is Jennifer's supervisor. Left him a message. We asked them to send us a key because an appraiser has called to do an appraisal on Countrywide behalf. We don't have a key now because Countrywide change the locks and had the property winterized! Jennifer is not aware of this.
1/30/2009
Pete will look over file and get back to us. He said the FHA packet still not there, he would also email Jennifer Cook.
2/3/2009
Randy at Countrywide said he did not see any note in the file about keys and he would check and get back with us.
2/3/2009
Jennifer Cook I emailed her and left her a message to make sure she was sending us keys.
2/4/2009
Jennifeer Cook and told me she was aware that this is the second request for keys.
2/4/2009
Jennifer sent a letter at 11:43am deny our workout. (short sale)
2/4/2009
Email Candace sent to Jennifer. You have just cost the tax payers of the USA thousands of dollars
not include doing your employer a horrible job in this entire transaction from when it started on 6-22-2008.
The original contract offer on 7-8-08 for $78,000 would have been a loss to Countrywide of $15,070
approximately, although this being a government insured loan I believe Countrywide would
have been paid this money back.
Second offer 11-28-08 of $50,000 would have been a loss to Countrywide of $40,000, which
again the government will be paying Countywide back.
Now the property has been foreclosure on and I guarantee that it will sell for less then $50,000
but who cares TAX PAYERS ARE BAILING COUNTYWIDE OUT!
2/6/2009
Received keys from Countrywide today for the house.
4/3/2009
House is still not on the market and is looking worse.
5/15/2008
Listed the property at 940 Lulu. Started getting history together to fax to lender
6/25/2008
Sent in pay stubs, bank statements, & letter
7/8/2008
Received a contract for $78,000 on 940 Lulu, Property listed at 82,500. Property had sold 1 year earlier for $84,900 and sellers paid buyers closing cost. Buyer did not take care of property and also ruined the new carpet that was put into prior to their purchase. This contract would have only made the lender short by $15,000 approximately.
7/9/2008
Sent in HUD statement & contract
7/23/2008
Revised HUD, appraisal, price change, listing agreement and MLS sheet sent for history
7/25/2008
All info has been received and being reviewed
8/6/2008
In work-out department since 7-30-08, will take a couple weeks
8/10/2009
Jennifer Cook is the negotiator for this loan.
8/12/2008
House only appraised for $78,000. We just closed on this house 1-3-2008 and it appraised then for 84,900 with seller paying $3000 in cost.
8/14/2008
Need FHA short sell packet - they will email it
8/15/2008
Called and left message, never received packet, also sent an email
8/18/2008
Left message
8/21/2008
Faxed Pre-Foreclosure form
8/26/2008
Contract fell through-Buyer backed out because it was taking Countrywide so long
9/17/2008
Emailed to see if FHA forms need to be completed or wait on a new contract.
9/22/2008
We sent complete packet even without an offer
10/1/2008
Emailed packet to Jennifer
11/18/2008
Sheriff sale was today
11/22/2008
Tried to Auction the home and only got an offer for $30,000. CK emailed Jennifer Cook a letter containing information about the auction and recent pictures on the home showing its condition.No response.
11/28/2008
CK offered $50,000 and wrote a contract and faxed it to the bank.
12/2/2008
Talked to Jennifer, need to contact Foreclosure Dept. 800-669-6607-Talked to Maria - told we needed to talk to REO 866-781-0029 - Told that Fannie Mae will be selling, no longer a short sell. We would have to wait until it became available with HUD, then submit an offer. The HUD Department told us since Countrywide is guaranteed to get paid on this loan since it is FHA they probably would not work to help complete this short sale.
12/2/2008
Called and asked about the redemption period with lost litigation.Was told that the file was not marked for a redemption period. Was referred to the Hope Dept, was told to send HUD, contract, Pre-approval letter, and bank statements, it could take up to 60 days
12/3/2008
Packet was sent
12/1/2008
Sellers moved out and CK turned utilities on in her name. Sheriff Sale was Nov. 18, 2008 we have until Feb 17, 2009 to get this complete.
12/8/2008
Called, was told to call back in a week
12/17/2008
Talked with Erica Martinez was told it was going to get assigned to a negotiator
12/19/2008
Talked with Bianca, a negotiator not assigned yet. It had not been changed to send to a negotiator. Was told they need the FHA packet. It will take 3-5 business days before a negotiator is assigned. Faxed the FHA packet again (originally sent 12-3-08)
12/20/2008
Team Leader, Juan Tovar has been assigned and should go to a negotiator in 10 days. I never got to speak to Juan. Ck
12/22/2008
Talked to Sharon, was told it would take 10 days to get assigned to a negotiator, once assigned it will take 30 days
12/30/2008
Called, was told it was closed for non-compliance, still did not show the FHA packet, call back in 72 hours to make sure it was received. Faxed again (for the 3rd time)
1/2/2009
Talked to Brian, still showed closed for non-compliance. Was transferred to Shauntel, FHA packet was there, it would be assigned to a negotiator. It will take 10 days. Was also told insurance expired in 30 days.
1/6/2009
Supposedly this has been assigned to a team leader per Kathy with Countrywide.
1/12/2009
Talked to Gary, said he would call with the negotiator assigned to the file
1/13/2009
CK talked to Gary Gibbs at 866-880-1232 ext. 8300 he told me by the end of business on the 14th we would have a negotiator by the end of the day.
1/15/2009
Talked with Rick, It would be 5-7 more days to get a negotiator. Was told there was no way this would be able to close by 2-17-09.
1/18/2009
Countrywide sent a company to change locks and winterize property.
1/23/2009
Finally short sale was assigned to Jennifer Cook who was the orginally negotiator on 8-5-08 who CK had also called when we got the second contract on 12-8-08 and she took us she would not get the file again and she could not help!
1/26/2009
Jennifer calls and says she don't have a complete file. Oddly she did on 8-18-08. We emailed her all the info again.
1/28/2009
Sent Jennifer updated paystubs and hardship letter
1/29/2009
Chris Minor is Jennifer's supervisor. Left him a message. We asked them to send us a key because an appraiser has called to do an appraisal on Countrywide behalf. We don't have a key now because Countrywide change the locks and had the property winterized! Jennifer is not aware of this.
1/30/2009
Pete will look over file and get back to us. He said the FHA packet still not there, he would also email Jennifer Cook.
2/3/2009
Randy at Countrywide said he did not see any note in the file about keys and he would check and get back with us.
2/3/2009
Jennifer Cook I emailed her and left her a message to make sure she was sending us keys.
2/4/2009
Jennifeer Cook and told me she was aware that this is the second request for keys.
2/4/2009
Jennifer sent a letter at 11:43am deny our workout. (short sale)
2/4/2009
Email Candace sent to Jennifer. You have just cost the tax payers of the USA thousands of dollars
not include doing your employer a horrible job in this entire transaction from when it started on 6-22-2008.
The original contract offer on 7-8-08 for $78,000 would have been a loss to Countrywide of $15,070
approximately, although this being a government insured loan I believe Countrywide would
have been paid this money back.
Second offer 11-28-08 of $50,000 would have been a loss to Countrywide of $40,000, which
again the government will be paying Countywide back.
Now the property has been foreclosure on and I guarantee that it will sell for less then $50,000
but who cares TAX PAYERS ARE BAILING COUNTYWIDE OUT!
2/6/2009
Received keys from Countrywide today for the house.
4/3/2009
House is still not on the market and is looking worse.
1 comments:
happy new year............................................................
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