Countrywide Short Sales

Mentioned by a Countrywide Loss Mitigation Negotiator: Countrywide has over 28,000 short sales in process, but only closes about 7% of these. What happens to the other 26,000 houses?? Most likely foreclosure. And this is with only one lender, although one of the largest.

So, expect to see a huge jump in foreclosures over the next 6 to 12 months. Inventory is going to dramatically rise causing even further price devaluation.

On the other side of the coin, this creates a big opportunity for those looking to buy homes. If done right, you can set yourself for life over the next three years with some really smart buys. Get ready from some SUPER deals.