Negotiating a Short Sale with Countrywide
Countrywide holds a large share of today’s distressed mortgages, and needless to say, a good share of short sale requests as well. This has made the Countrywide short sale negotiation process complicated for many troubled borrowers. There have been many accounts of short sale Countrywide borrowers waiting months for approval, and often ending up in foreclosure. But that doesn’t mean a short sale Countrywide is impossible—it just means you have to put in a bit more effort to get your short sale.
Hire a Short Sale Agent
The first thing you need is a short sale attorney or agent, preferably one with short sale Countrywide experience. They can help you with the short sale application as well as get in touch with the short sale Countrywide department sooner; otherwise you may get passed on from one office to the other and have to wait hours on hold. A good agent can get you through all that and start the short sale Countrywide process sooner.
Fill out Countrywide Short Sale Package
Next, you need to complete your short sale Countrywide documents, which the bank will use to evaluate your situation and decide whether a short sale is right for you. Some of the main short sale Countrywide requirements are bank statements, tax forms, proof of income, and a hardship letter, where you explain how you went into default and why you need a short sale.
List Your Home
Your agent will list your short sale Countrywide home and help you find buyers, but you can also do your part to help them along. Get word around about your short sale Countrywide home through friends and family, the Internet, or public listings. This will help you get more views and close the sale sooner, so you don’t have to rush to meet the deadline.
Submit to your Lender
Once you’ve found a buyer for your short sale Countrywide home, you can submit their offer to your lender and wait for them to approve it. Remember, the bank decides whether or not to accept it, so choose your offers well and submit one that would make sense to th em over a foreclosure. When the offer has been approved, you can move to closing day and complete your short sale.