Mortgage Forum

Mike

In January of 2006, I bought a townhome in Phoenix with an 80/20 interest only mortgage and nothing down. In October 2006, I had to move to Texas for employment reasons. I put my home on the market in November. I had done continuous incentives like paying for closing costs, down payment assistance and reducing the price but could not get a buyer to bite. By March of 2008, my price was so low compared to what I owed that I had no other choice but to do a short sale.We had one offer in early April that required we close within 2 weeks. That fell through because I could not get Countrywide who was on the 2nd mortgage to reply. I got another offer in May and this time I went looking for help on how to get this done. US Bank had already been working my file and I had a good relationship with them. I had faxed all my info to Countrywide and kept being told I was waiting to be assigned to a negotiator. I also could not get to talk to anyone on the department that was making the decision. I kept getting transferred to the call center in India. I once even had a guy in the call center in India put on a Texas accent and tell me he was from Dallas. The Call Center kept making promises about a decision this week or next but time kept ticking by with nothing. I could not afford to lose this buyer. I needed help. I came upon zinomortgage.org and started researching. I found the email addresses that I needed to send my information to and sent it the day of the Mozillo email news story. By escalating my file with the help of zinomortgage, the Office of the President assigned my file to a nice negotiator who helped me get the short sale approved.We closed yesterday. I still can't believe that it actually is done. After 20 months of sleepless nights and worrying, I can finally breathe a little easier. It hasn't hit me yet.Thank you zinomortgage, especially Cat and Moe for all your help. I am now a success story. It was a long, hard, frustrating process but we got it done and I have to thank you guys for the valuable information and suggestions you posted on this website. You are truly offering a great service that is much needed in today's world. Thank you thank you thank you.If anyone has questions about doing a short sale with US Bank or Countrywide, I would be glad to assist any way I can. I feel I am obligated to as all of you at zinomortgage have been so helpful to me.Best of luck to everyone.