Countrywide Shortsale
Hi all,
Generally speaking, does anyone have an idea as to the percentage that Countrywide is willing to discounts their loans?
Thanks
Generally speaking, does anyone have an idea as to the percentage that Countrywide is willing to discounts their loans?
Thanks
Comments(0)
P.S.
Loans that they own.
Thanks for the reply SSP. Assuming we come to an agreement that the value is 100K, what % are we looking at?
P.S.
How can I contact you SSP?[ Edited by tat on Date 03/17/2006 ]
I did one with Countrywide that was an FHA loan . . . discount was limited by FHA to roughly 16%; in other words, I paid them about 84% of the "mutually agreed as-is market value". They were in the first position, and thankfully the second did a much greater discount so it was still a good deal.
[ Edited by Storm33 on Date 03/17/2006 ]
I paid 84% on the first (Countrywide), and they in turn passed $1,000 to the second (Bank One) in exchange for releasing the lien.