The Short Sale Expert

Hello Broken Credit Bloggers,

Paul asked me to write an article regarding some internet rumblings over Countrywide’s policy on short sales of investment property. The internet seem to be growing in an alarming rate and the amount of bad information found seems to have grown exponentially. The internet is a haystack and here is your needle. Somehow, someone experiences something and next thing you know they get on the Web/Phone/TV. It gets passed around and the folklore turns into fact.  Fact from fiction is a problem that could affect you for future endeavors. Well, in the interest of separating the two, I make it my job to dispel those rumors.

First, and foremost, my name Jonathan Katz. I am the Founder/CEO of Absolute Foreclosure Counseling (AFC). Our team at AFC has worked for and in conjunction with the largest lenders in the US. Personally myself I worked for the giant Countrywide Home Loans (CHL). Distinguishing between what options are available for homeowners to both keep and sell their homes I have personally dealt with about 30,000 cases.

As you can imagine these types of relationships leave us well connected to the hearts of the industry. Well as I saw this hurricane of misinformation come into my town, about my alma mater in this case, I put in the calls. I have spoken to various connections and I would like to squash this low pressure system of bad information before it goes up in category. There is NO non-owner occupied (N/O/O) floor wide ban. There IS investors that will decline those types of transactions but that only counts for a small part of the portfolio.

We hope this is able to set the record straight. As it did come from a Short Pay Off Workout Representative from CHL (a personal acquaintance).

Jonathan Katz, Account Manager
Absolute Foreclosure Counseling
Your Voice in the Mortgage Industry.©
Tel: (888) 945-5553
Contact Jon