Anyone with Short Sale Experience with CW

madmax · 02-03-2009, 07:29 AM

Ok I'm trying to do a short sale with CW. I have all the paper work in and an offer for 400k on my house. I owe 439k on the first and 144k on the second. It's been assigned to a negotiator for two weeks and the status is being processed with a do not call back until 2/12. I have tried to call and cannot get past the telephone prompts.

Now the question. My insurance agent has called and told me he was contacted to drop the insurance on the house by CW. Also CW has taken over the utilites. Does this indicate that they are not going to do the short sale? Are they just going to go ahead and foreclose? Anyone that has experienced this I would appreciate your experience with CS in this situation.

Thanks in advance!

heehoo22 · 02-03-2009, 11:54 AM

Are you currently living in the property?

madmax · 02-04-2009, 08:45 AM

No we are not livinging in the house. I'm glad in a way they are taking over the utilities as it will free up some money. It seems to me that they have decided to foreclose. I'm just wondering if anyone else has had this happen but still had the short sale approved?

heehoo22 · 02-04-2009, 10:42 AM

It's not that they have decided to foreclosure but Countrywide has a legal responsibilty to secure the property if it is vacant to ensure no damage is done to the property. They are just protecting their investment. You can still proceed with any type of workout review, including short sale.