Hey Harry Reid ... Here's What's Really Happening in Nevada! Look What Counrtywide Did today! Another One Bites the Dust!

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Real Estate Agent with RE/MAX Realty Affiliates

I lost a short sale today ... Good Ol' COUNTRYWIDE!  90 days to negotiate and ... in a rapidly falling market!  The unemployed seller is 72 year's old, has worked hard all his life.  He has no vehicle, lost his company truck, and is doing his level best to hold on to what little he has left.

His credit is shot, he'll never buy another house, his best hope is to have enough money to rent for the rest of his life! 

He did the honorable thing ... ask for a modification, no soap!  He doesn't qualify for a modification.  So we requested a short sale, (he had to be 60 days in arrears for them to talk to us ... but that's another story!), obtained an offer and began the painful journey into the "short sale" world.

CW, in their infinite wisdom and greed, want this poor guy who is living hand to mouth to pay $7,500.00 over the next 6 years.  He'll be 78 years old before he's clear.  No negotiation, no conversation, no interaction!  Simply ... here's our terms, you have 72 hours to respond or we proceed with the sale! 

Can you believe it?  

Here's the real world Harry Reid!  A hard working Nevadan caught between a rock and a hard spot while Countrywide gets billions of bailouts and the upper echelon walks away with huge executive perks!  Wake up and smell the sagebrush!

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  1. Jessie Wetzel 02/16/2009 03:20 AM
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Topic:
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Location:
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Groups:
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Tags:
harry reid
senate majority leader
nevada real state
sagebrush state
nevada economy
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jim valentine
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Rainmaker
500,303
Lisa Wetzel
CDPE, SFR carsonvalleyland.com
RE/MAX Realty Affiliates

Angelia - we discussed Countrywide at lenght at our staff meeting this mrning.  Everyone, bar none, agreed that they are the worst!  No cooperation, no communication, NO Hope!  What's up with that?

Dean - Amen!  And thanks for your thoughts and support!  "Home Retention" is a JOKE!  There's no hope and no help with many of these lenders.  Maybe we need to start a "GOOD" List and  a "BAD" List? 

February 10, 2009 10:31 PM
Rainmaker
1,286,465
Vickie Nagy
Broker for San Ramon, Danville, Dublin, Pleasanton
Vickie Nagy, Broker Associate Realty ONE Group BMC Associates | BRE#01363932

Oh my, what a heart rending story. I hope that he had someone to turn to for help. This is just awful.

February 11, 2009 01:11 AM
Ambassador
260,977
Christianne Gordon
REALTOR e-PRO CDPE, SFR Carson Valley Real Estate Specialist
Carson Valley Homes and Land - RE/MAX Realty Affiliates

Lisa, that stinks! I really don't care for Countrywide either and am sorry you lost a deal. It stinks when you work so hard to genuinely help people who need the assistance and the bank just turns a blind eye to the situation. Countrywide is definitely on the stinky list and I would question working with a buyer who wanted to work with Countrywide because they always seem go to south. Steve and I lost a deal this week with a buyer. I won't get into the specifics but guess what: Countrywide was the lender!

February 14, 2009 07:57 PM
Rainer
15,294
Raine Nordby

I can certainly understand the sentiment expressed by Lisa and all on this comment log; however, not all Countrywide deals go south. My husband has worked for Countrywide for 8 years and has built a stellar reputation in our area. Bank of America is truely investing in housing retension. It's a fact, retension is a huge savings (both to mortgagor/mortgagee) compared to the high cost of forclosure. Lisa's story is very sad, and I know my husband works very hard for his realtors and their clients to create the best outcome possible.

http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/

http://newsroom.bankofamerica.com/index.php?s=press_releases&item=7956

It's a good life!

~Raine

 

February 15, 2009 07:53 AM
Rainmaker
500,303
Lisa Wetzel
CDPE, SFR carsonvalleyland.com
RE/MAX Realty Affiliates

Raine - Your husband must be a Countrywide Rep.  They are all nice!  I'm sure he's a great guy!

I called Countrywide today for another update!  I've been waiting 9 days since we submitted out counter counter offer and guess what?  No one has even acted on this file.  I asked again to have the negotiator look at it and respond to us!

This just isn't good business!

February 19, 2009 01:10 AM
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Rainmaker
500,303

Lisa Wetzel

CDPE, SFR carsonvalleyland.com
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Additional Information

Lisa Wetzel and Jim Valentine have been selling real estate in Northern Nevada over 33 years. They work at RE/MAX Realty Affiliates in Gardnerville, Nevada. All blog entries are based on their combined experience working daily as top producing real estate agents in their market. Feel free to post your questions or comments.


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