Will the foreclosure procees continue?

[MrWright]

Originally Posted by MrWright

I just called Countrywide Home Loans and they say once you are in the workout department trying a short sale and someone is activly working your file then foreclosure is postponed.

Something I noticed on CW site. Workout Status section. Highlighted in Bold the most important part. Phew a little relief... Thanks for the continued support everyone.

Short Sale View the Details Hide the Details


Workout Status Details: Your request for assistance is under review. During the review process, a thorough examination and analysis of your loan will be completed. During this time, we may or may not need additional information from you. It is common that you will not hear anything from us during the review period, but please be advised that all collections activities have been temporarily suspended during this review period. We expect more information to be available on 08/01/2008. If your status remains unchanged after the 08/01/2008, please call and speak to a customer service representative. Please do not call back before 08/01/2008 as that will delay the process. Please respond promptly to any calls or requests that you may receive from us during this period. Lack of response will cause your workout to be delayed or cancelled. Thank you.


Information as of: 07/11/2008
Workout Stage: Processing
Phase/Sub-Phase: Active Processing

[MrWright]

Well I have been assigned a Negotiator. Name is Pamela Cheatom. Anyone have any experience or contact information for her?

Thanks as always!

[icurn]

I don't know her but wanted to check in and see if you got your appraisal yet? We had ours done yesterday and after I spoke with our negotiator this afternoon she said she'd probably have it tomorrow. I am a nervous wreck!!

[MrWright]

Just wanted to give an update.. I finally closed on our ShortSale last Friday!! Im not sure I would have got anywhere with out the help of this site. So my family really appricaties the time and effort to all that helped make this happen. Keep up the outstanding work that you provide. Trully appricatiated..

With that said I do have one last question. If I have an escrow account with the lender, should I expect a refund of insurance and taxes that have been paid? I got a refund for insurace in the mail but not any taxes.

[Andrew]

Thats strange they gave your insurance refund back (great for you), they werent supposed to. The shortsale doc's i have seen, you sign one page that says they get to keep any insurance or escrow because you are selling the house for less then the mortgage.

[MrWright]

Originally Posted by Andrew

Thats strange they gave your insurance refund back (great for you), they werent supposed to. The shortsale doc's i have seen, you sign one page that says they get to keep any insurance or escrow because you are selling the house for less then the mortgage.

There is a line like that in the doc. However, I recieved the refund direct from the insurance provider. Will the lender also try to request a refund from the insurance company? I guess Im not sure what to do with this refund.