Countrywide Short Sales

Currently, Countrywide is swamped due to the amount of foreclosures and short sales in the pipeline.  Many Realtors are having to wait quite a bit to hear a response.  Here are a few tips to make your experience with processing a Countrywide Short Sale a successful one:

  1. Countrywide will not even consider a short sale unless the seller is at least 60 days behind on payments.
  2. Countrywide (just like any other lender) wants to get a Fair Market Value for the property.
  3. Plan on the process taking anywhere from 2 weeks to 6 months.  The paperwork goes into a “Home Retention Team” division.
  4. Make sure your Realtor is authorized to speak with Countrywide on your behalf.
  5. The Realtor is to fax in a short sale package (72 hours to acknowledge)
  6. A loss mitigator will be assigned to the case (will take 7 to 10 days)
  7. A loss mitigator is assigned  (will take 30 to 45 days)
  8. Make sure the short sale package is very thorough, don’t leave anything out.
  9. Get the right number and get the right people to speak with.  866-880-1232
  10. When you get your “negotiator” assigned to your case, make sure to get their name and phone number.
  11. Contact the negotiator via email.  You could try using (it seems to have worked with some realtors: firstnameunderscorelastname@countrywide.com


Short Sale