[bachbaron]

I have an 80/20 loan on a house in Arizona. It was originated by US Bank but Countrywide bought the 20% after closing. I did not have PMI on it because of the 80/20 scenario.

Well I am trying to do a short sale because I had to move to Texas for employment reasons. US Bank has been nothing but helpful in trying to help me get out of this situation. They will not release a letter of acceptance for the offer we currently have until Countrywide releases their lein (2nd).

Countrywide has already cost me one offer on the property because they didn't respond in time. Well thanks to your website, I did the email blast to all the executives when I got this offer although I am now running into problems again. Countrywide claims there is PMI on my 2nd mortgage although I confirmed with my originating loan officer there is not. I confronted my loan officer, Krysta McDonald (office of president short sales) and she backed up on her statement. She then blurted out that Countrywide wants triple what US Bank is preparing to offer PLUS I would have to sign a promissory note! Heck no I am not doing that! Since the property is in Arizona and it's a non deficiency judgement state, why in sam hell would I sign a promissory note to Countrywide if I could foreclose and not have my wages garnished?

Any help anyone has to haggle with Countrywide to accept the 1st lein holder's offer would be much obliged. Also, should Countrywide and US Bank be talking directly or should I be doing to messenger work? Does Countrywide really have any grounds to haggle with me? If there is a foreclosure because they screw up my short sale, they'd get NOTHING as US Bank is the 1st lein holder.

Any help would be much obliged.

Joshua