In February, I successfully completed and closed a short sale with Countrywide. The process was a nightmare and it took almost 6 months to get completed (many complicated issues on this one).

I represented the buyer and the seller in this transaction. Although I was able to keep it together, the buyer was frustrated by the time it closed. But, all is good now, they are happy with their purchase.

Now almost August, the new owner calls me today (6 months after he closed) FREEKING out. Why? Because he has a notice on the door that the home was just sold in Sherriff sale!

After the call from the new owner, I ran to the office. I pulled the file and reviewed everything...it was all fine.  I called Countrywide immediately.  After reviewing the documents with the person on the phone we discover the loss mitigation representative reversed a digit in the account number on the approval letter and closing instructions. OMG!!  So OK, how are we going to fix it!??

That loss mitigation representative and their boss no longer work at Countywide. The account we wired the money to is a Bank of America account (we closed right in the middle of the merger), and the person I had on the phone had no idea what to do. The highest person I could get to; the regional director also had no idea what happened and what to do about it. They told me they will start an investigation! WHAT DO I TELL THIS HOMEOWNER RIGHT NOW?

The moral of this story, and it is a true one, verify everything on your approval letters. Do not leave anything to chance! I have no idea how this is going to turn out, but it's a big mess!!

I can honestly say this is a first for me!

Good Luck!

Frank Wible