This is a follow up to yesterday’s story.

According to my source, Countrywide is indeed NOT negotiating short sales on Vacant Homes.

She said…

“No Investment Property, No Rentals, No Vacant Homes“

If your short sale was already approved - you may have a case to continue on. If the homeowners have moved out (it shows better when empty or staged) they may need to move back in just to close the short sale.

Considering the vast amount of homes CFC has on the books, there’s a lot of potential issues coming up.

Have you made an offer on a Countrywide Short Sale home and just waiting for approval? Is it currently vacant?

Ouch!

Labels: Lenders to Avoid, Loss Mitigation, Short Sale Negotiation