Countrywide Mortgage
Putting off a Short Sale to Send it to Foreclosure

My fianc' and I have been house hunting for quite some time now. We are blessed to be in a position to buy a home during times when so many are losing their homes. We fell in love with a home in the town I grew up in. The home was listed on the MLS as a normal listing. The remarks read Desperate must sell, will entertain any offer

We immediately put in a low offer on the home. Because the home was going to Sheriff sale soon, all offers lower than listed asking price must be submitted to Countrywide. We hoped to purchase it before it went to Sheriff Sale. Apparently our offer was too low because we never heard from Countrywide. We waited almost 6 months and could not get over this house. We then decided we would try to give them $5,000 less than the asking price and see if they would accept this offer since the home had been on the market for so long. The selling agent sent the offer to the bank and they responded almost immediately. They told him that we must make our offer for only $2,000 under the asking price. We agreed to pay $2,000 less than asking price and pay all closing cost.
We wrote up the purchase agreement, both parties signed and our closing date was set for twenty-four days later. My fianc and I were very excited that Countrywide had finally agreed to an offer and we finally had a close date set.

That excitement was short lived. We later found out that Countrywide had only agreed to the price of the home verbally. Apparently Countrywide would like us (the buyers) to pay for any fees or penalties that may exist on this home.

Instead of possibly waiving the fees and taking a loss on this home so it will not go into forclosure they are taking their sweet time. They have just recently assigned it to a negotiator. We have still heard nothing. Our offer will expire on the 23rd of April. Without a purchase agreement on the house, it will go to Sheriff Sale. If Countrywide was smart they would realize this home has been on the market for going on 9 months. They will never sell the home for $20,000 more than what is being asked now.

Countrywide is too big for their own good. They did not even realize the home was going to Sheriff Sale. Pictures had to be taken of the notice on the door stating that Countrywide was the Plaintiff in the case, and e-mailed to Countrywide.

Countrywide appears to be selfish and greedy. They do not seem to be worried about peoples' hardships. They are only concerned with taken as little of a loss as possible. These are hard times and we should all be doing whatever we can to help each other out. Does anyone have a possitive story about something Countrywide has done?

The owners of this home have already lost everything they have, but at least if they sell their home before it goes to Sherriff Sale they can salvage some of their credit.

Company: Countrywide Mortgage
Country: USA
State: Louisiana
City: Baton Rouge
Phone: 8007631254
Site: www.countrywide.com

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