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lashawnnorden | March 27, 2009 04:57 PM | in Money | via Twitter | about Countrywide

Anyone had an approved short sale with Countrywide? If so, how long did it take to get approval? Only one mortgage and shortage is $40k.

voted interesting: williamwaco

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BEST ANSWER decided by votes | morriss003 | April 05, 2009 06:24 AM | view on twitter

From;

http://www.rulnickrealty.com/blog/2008/01/short-sale-time-frame.html

"Countrywide's average response time is now 43 days."

However, this was from Jan 13, 2008. What do you want to bet that it's longer now?

source(s):
http://www.rulnickrealty.com/blog/2008/01/short-sale-time-frame.html

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Voted as best: pensivefox, mattman4, drmatt, jeffhoard, hcp56, cjd, bbrookin

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mszago | October 25, 2009 11:23 PM | view on twitter

The timeframe (start to finish) for an active Countrywide (CW) short sale is currently 54 to 90 business days. An active short sale begins on the date CW receives the complete short sale package from Seller, usually with the assistance of a Realtor.

Please keep in mind there are a couple of factors to consider when estimating a short sale timeframe.
• The type of loan seller currently has
• The investor/ lender involved

Government based loans usually require more time than conventional type loans. Certain Lenders/Investors requires 2 appraisals (BPO's) for review instead of 1. Also, some Lenders/Investors require more time to review a short sale.

source(s):
http://my.countrywide.com/media/HRPFactSheet.html

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Voted "No best answer": pazaq,