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Countrywide Adds Yet Another Layer of Short Sale Gatekeepers

Countrywide Mortgage adds another layer in its continuing maze of gatekeepers and required approval process.  Countrywide now requires the seller to be qualified before starting a short sale.

They now require a much more detailed financial summary and a personal phone contact with the seller before the short sale process is even started.  If you are doing a short sale with Countrywide, be forewarned that you need to ensure that the seller makes contact with the lender and has their financial statements in order – including any 401K, or other assets not normally included in the financials.

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