Then I saw online tonight about the "rumor" that CW was filing for bankrupcy I thought I would run right over here and see what everyone was saying....I didn't see a thread so I thought I would start one.

Does this worry anyone? It scares me as they owe me alot of money right now. Actually I was going to call them tomorrow anyway just to see where my checks are as I have not gotten one in some time now.

Well, it doesn't surprise me. I do alot of they make it so difficult in my market to sell their REO's and pick an agent because they "send them buyers" is what I heard from 2 CW LO's just this week...well guess what guys...if I had buyers I wouldn't be trying to be your REO agent!!! HELLO, like that is a qualification.

Then, I do a lot of short sales and CW though easy to get a hold of pays way too much for appraisal on a short and then takes around 3 months to approve after that. Buyer has walked and they won't do another $350 appraisal. What a joke. It's gotten to the point where I don't count on a CW short to happen at all. That's really sad...cause there is a lot of them out there.

They are sinking like an anchor.None of their properties by me are moving.

I'm not surprised by this at all, in fact, I have been prediciting their demise for just under a year now. They've acquired too much bad paper over the years. They should have known that the gravy train would not last forever.

GREAT -right when they owe me $3300 and are my bread and butter company right now.

Diversification is the name of the game ......

I guess every cw market is different. Cw properties around here are always really cheap, and the only thing the broker does is a bpo and sell the house. They dont handle anything else.

Is anyone having a problem with checks arriving?

Checks arriving as usual, new listings still forthcoming and pending, and reimbursement time for reo expenses hasn't changed for me. A little further West of the SW Burbs of Chicago.

Wasn't the conversion number at $18 a share for BoA on their loan? Having read countryfried went thru the 1st billion in only a month before holiday...the new low set today on the stock surely must make them uneasy.

Right here in So Cal, several of the CW properties are getting multiple offers within days/weeks they hit the market. I hope they don't go under. I'm owed a boat load of money from their BPO dept.

cjmj .....thanks for the info....I will be on the phone tomorrow. I was getting a couple of checks a week and not one in the last 3 weeks....very weird.

I don't think it is a matter of "if" but more of a "when". BofA's infusion of cash was futile and they are not pleased with their "investment". Unlikely any of the other financials is either bold (read foolish) enough or capable of action at present. Unless the Gov't intervenes I think it is a done deal. Never know what Uncle Sam will do though!

Oh yeah, my last check from CW was almost a month ago, so I'm expecting something this week...or else. >:D

I seem to be getting a check once a week from them.