Posted by rm on May 01, 2004 at 08:24:48:
If that’s the case, why wouldn’t you simply reinstate the loan, complete the repairs and sell?
Run the numbers… it’s often cheaper to re-instate than to originate a new loan. With numbers like that, they probably won’t discount.
Has Anyone Done a Short Sale With Countrywide - Posted by Annette
Posted by Annette on April 28, 2004 at 20:36:30:
Has anyone done a short sale with countrywide home loans? If yes was it difficult,what should I look out for and what would increase my chances of getting my offer accepted. The house Is Vacant and I’ve been told by the owner that it has a really bad mold problem. I hope to see the inside tomorrow.The foreclosure sale will take place in four weeks.
Thanks
Annette
Re: Has Anyone Done a Short Sale With Countrywide - Posted by Charles
Posted by Charles on April 29, 2004 at 08:45:19:
Does the property have any liens or mortgages filed against it?
Re: Has Anyone Done a Short Sale With Countrywide - Posted by Annette
Posted by Annette on April 29, 2004 at 15:21:58:
The mortgage from countrywide is the only lien on the prorerty. The mortgage is a 1989 FHA loan. $45,000 original amount with a $53,000 balance. After repiar value $135,000 maybe $40,000 in repairs. Mold issues.