Another scheme by CW - Loan Modification Forum

faith · 03-27-2009, 08:15 PM

I can't believe what CW is doing. I have sold my house via Short Sale, they approved the Short Sale, escrow closed, they got the money, and I was told by the Negotiator that Fannie Mae will issue the 1099C but up to now I haven';t gotten any 1099C. What I have received was an alert from Equifax stating that a certain company called LANDSCAPE CREDIT just checked my credit report with Transunion, Exoerian and Equifax. I've checked the internet who is Landscape Credit, I found out that they are the new affiliates of Countrywide. Does anyone know about this company and why they are asking for my credit report?

Any help is greatly appreciated.

house865 · 03-28-2009, 05:09 AM

Are you sure it is called LANDSCAPE CREDIT and not LANDSAFE CREDIT?

faith · 03-28-2009, 09:13 AM

Quote:

Originally Posted by house865

Are you sure it is called LANDSCAPE CREDIT and not LANDSAFE CREDIT?

House865,
Thank you for pointing that out, I've checked my credit file again with Equifax, you're right is is called LANDSAFE CREDIT. Do you know anything about this company? My google searched states it's affiliated with CW and I'm just wondering why they are ask for my credit report when I have never heard of them and don't know them.

Thanks.

house865 · 03-29-2009, 10:09 AM

I do not know anything about them, but I do believe that they are a Countrywide offshoot or affiliate. The reason the name rung a bell is because the appraiser that did the BPO on my home was with Landsafe. The appraiser is probably with another Landsafe offshoot, maybe Landsafe Appraisal Services - LandSafe : Services : Appraisal

Whoever they are they are all in the Countrywide cluster it seems.

faith · 03-29-2009, 03:39 PM

Quote:

Originally Posted by house865

I do not know anything about them, but I do believe that they are a Countrywide offshoot or affiliate. The reason the name rung a bell is because the appraiser that did the BPO on my home was with Landsafe. The appraiser is probably with another Landsafe offshoot, maybe Landsafe Appraisal Services - LandSafe : Services : Appraisal

Whoever they are they are all in the Countrywide cluster it seems.

House865,
Thanks for the info and the links, I can sure use it.

cnet2k · 04-11-2009, 12:07 AM

Landsafe is a well respected credit company. CW might of pulled your credit as part of their due diligence in order to process and approve your short sale. You should check to when that inquiry occurred. It should correlate to the same time you started your short sale or at least during that process. Hope that helps.

slojj · 04-11-2009, 08:22 PM

If you don't mind, what was your credit score before and after the short sale. Also how many months of non payment did you have during the short sale.
thanks

cnet2k · 04-14-2009, 09:07 AM

My fico dropped from being in the 700s to low 600s. I was about 90 days past due by the time my escrow closed. I was also past due on both my first and second mortgage.

slojj · 04-14-2009, 10:59 AM

Cnet2k, I got a couple questions for you regarding your short sale.
My situation is 80/20 loan with CW $250k and Wells $60k. I stopped paying both in March. Its currently on the market with numerous offers around 240K which is close to market value according zillow. My purchase price was 340K.
In your opinion and experience, is 240k a good offer and should I start looking for a place to rent. Or will this process take forever.
thanks

cnet2k · 04-14-2009, 11:38 AM

As far as the process, my short sale took 7 months to close. There's no set time frame so I, personally, would err on the side of a long process. No matter what your house is priced at now, the lender will order their own BPO (broker price opinion) to help determine the actual sales price. The value determined by zillow are usually inaccurate. It's "maybe" a good starting point for a "general" idea but like I said, a BPO will be ordered by the lender. There's a lot of other factors that go into this as well, much too complex to get into but just know that at the end of the day you'll be playing by the lenders rules to get the short sale approved.

As far as moving, I personally didn't move until my short sale closed or until I was near the end tale of the foreclosure process. Luckily my short sale closed. Why move out earlier than you have to and pay rent. It also helps to have an agent agressively marketing your property. The more views the greater potential for offers.

Hang in there. It's not a fun process but it will be a relief once it's over and it's better than a foreclosure if you can avoid it.

03-27-2009, 08:15 PM	#1 (permalink)
faith Homeowner & Forum Guide Join Date: Feb 2008 Location: San Diego Posts: 844	Another scheme by CW I can't believe what CW is doing. I have sold my house via Short Sale, they approved the Short Sale, escrow closed, they got the money, and I was told by the Negotiator that Fannie Mae will issue the 1099C but up to now I haven';t gotten any 1099C. What I have received was an alert from Equifax stating that a certain company called LANDSCAPE CREDIT just checked my credit report with Transunion, Exoerian and Equifax. I've checked the internet who is Landscape Credit, I found out that they are the new affiliates of Countrywide. Does anyone know about this company and why they are asking for my credit report? Any help is greatly appreciated.

03-28-2009, 05:09 AM	#2 (permalink)
house865 Member Join Date: Mar 2009 Posts: 9	Re: Another scheme by CW Are you sure it is called LANDSCAPE CREDIT and not LANDSAFE CREDIT?

03-29-2009, 10:09 AM	#4 (permalink)
house865 Member Join Date: Mar 2009 Posts: 9	Re: Another scheme by CW I do not know anything about them, but I do believe that they are a Countrywide offshoot or affiliate. The reason the name rung a bell is because the appraiser that did the BPO on my home was with Landsafe. The appraiser is probably with another Landsafe offshoot, maybe Landsafe Appraisal Services - LandSafe : Services : Appraisal Whoever they are they are all in the Countrywide cluster it seems.

04-11-2009, 12:07 AM	#6 (permalink)
cnet2k Member Join Date: Sep 2008 Posts: 5	Re: Another scheme by CW Landsafe is a well respected credit company. CW might of pulled your credit as part of their due diligence in order to process and approve your short sale. You should check to when that inquiry occurred. It should correlate to the same time you started your short sale or at least during that process. Hope that helps.

04-11-2009, 08:22 PM	#7 (permalink)
slojj Member Join Date: Feb 2009 Posts: 13	Re: Another scheme by CW If you don't mind, what was your credit score before and after the short sale. Also how many months of non payment did you have during the short sale. thanks

04-14-2009, 09:07 AM	#8 (permalink)
cnet2k Member Join Date: Sep 2008 Posts: 5	Re: Another scheme by CW My fico dropped from being in the 700s to low 600s. I was about 90 days past due by the time my escrow closed. I was also past due on both my first and second mortgage.

04-14-2009, 10:59 AM	#9 (permalink)
slojj Member Join Date: Feb 2009 Posts: 13	Re: Another scheme by CW Cnet2k, I got a couple questions for you regarding your short sale. My situation is 80/20 loan with CW $250k and Wells $60k. I stopped paying both in March. Its currently on the market with numerous offers around 240K which is close to market value according zillow. My purchase price was 340K. In your opinion and experience, is 240k a good offer and should I start looking for a place to rent. Or will this process take forever. thanks

04-14-2009, 11:38 AM	#10 (permalink)
cnet2k Member Join Date: Sep 2008 Posts: 5	Re: Another scheme by CW As far as the process, my short sale took 7 months to close. There's no set time frame so I, personally, would err on the side of a long process. No matter what your house is priced at now, the lender will order their own BPO (broker price opinion) to help determine the actual sales price. The value determined by zillow are usually inaccurate. It's "maybe" a good starting point for a "general" idea but like I said, a BPO will be ordered by the lender. There's a lot of other factors that go into this as well, much too complex to get into but just know that at the end of the day you'll be playing by the lenders rules to get the short sale approved. As far as moving, I personally didn't move until my short sale closed or until I was near the end tale of the foreclosure process. Luckily my short sale closed. Why move out earlier than you have to and pay rent. It also helps to have an agent agressively marketing your property. The more views the greater potential for offers. Hang in there. It's not a fun process but it will be a relief once it's over and it's better than a foreclosure if you can avoid it.

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