I do a alot of short sales and currently have 4 under negotiation with Countrywide/B of A and I can tell you one of the most challenging to work with of all of the lenders I have encountered. Although they indicate 30-60 days a well educated and short sale seasoned agent will tell you that you will most likely be 3-5 months for approval. They are usually pretty insistant on gaining fair market value and tend to stick with their BPO (Broker's Price Opinion). If it is a Fannie Mae loan you can be assured that the BPO is done upfront and the process may be quicker -- I can tell you how to find that out if you give me a call or email me :-)

Bottom line is short sales can be frustrating, but if you are willing to wait and know that the agent listing the property has experience in Short Sales you have a great opportunity.

Fell free to let me know if you have any more information, I live in Snohomish and do a lot of work in the area -- so happy to coach you through the process.

Good Luck!

Currently I am dealing with 2 through Country Wide. They say 60-120 days start to finish. Every few weeks we seem to get a step further. It is important that the listing agent and the seller are on the same page and have all of there ducks ready for when an offer comes in . Sometimes these deals are going to foreclosure way before short sale acceptance can happen.

Michelle Roethle
360-649-1195
Free Foreclosures for Washington http://www.FreeNorthWestREO.com

Congrats on your home sale. Countrywide is now BofA. Because of the merger, they are crazy insane and overwhelmed, expect everything to take longer, they still don't know who is doing what (merger date was late April). Be careful on short sales.

I do a fair amount of short sales and have successfully dealt with Countrywide (Now Bank Of America Home Loans) several times. 8 weeks is probably best case as far as gettig an answer from any bank on a Short Sale. I have had it take 4-6 months to get an answer after you have mutual acceptence on a deal. I used to deal with the banks myself but it got to be too much. I now use an attorney who negotiates on the sellers behalf. All the banks are difficult to deal with but Countrywide is in the top 5 worst.

They are nuts! Here are two numbers to try to reach them at 888-453-3102 or 877-744-7691