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Originally Posted by kaye_ca  i am in a similar situation but with Citimortage...I am 12 days late on my payment...that is also the $1M dollar question for me now... |
I had an offer on my house for a short sale with countrywide. I was already 60 days late and I had to call and fax to even get a letter from countrywide acknowledging they received my paperwork after a few weeks. They play a lot of games to avoid doing any work becuase they are so swamped. So the bottom line it is a very slow process to do a short-sale and they may not even decide they want to do a short sale for the price that the buyer is offering. my buyer walked form impatience and the whole process starts over again. Also, they are so swamped that it is liekly they may focus on the ones that are alread in forclosure before looking at a loan where someone is paying? I would stop paying, and that is what I did. I don't really see any benefit in paying unless you want to keep the house. Also, they can always delay foreclosing if you have a offer they want to consider.
Mark