Ocwen Short Sales – A Positive Reversal

November 7, 2012 at 1:28 pm Leave a comment

By: Maria Hass – I recently blogged about Ocwen’s short sale processing system. In my blog, I mentioned the difficult process involved with obtaining correct information from customer representatives at Ocwen.

I also shared the story of Ocwen deciding to deny a short sale unless the seller was able to pay the full balance of the loan immediately. Ocwen said the seller had no foreseeable default because they were current with their mortgage.

I was upset and frustrated upon receipt of the short sale denial letter. However, my past short sale transactions taught me that if you want to be successful at short sales, “you should never give up,” and also to be prepared to hear the word “No” many times.

So, I escalated the matter to the executive level by emailing the senior manager for Ocwen short sales. I explained the situation to her. The following day, an Ocwen representative called me and asked for the details of my seller’s financials and the reason for the hardship. A couple of days later, I received a “clean” short sale approval letter without seller contribution or promissory note and a full release.

I’m obviously glad that the original decision of Ocwen to deny the short sale was overturned. We are now moving forward to successfully close the short sale. If you are negotiating a short sale with Ocwen, be aware that if your short sale is not going anywhere, there is someone at Ocwen who will be there to listen to you.

Entry filed under: Arizona Real Estate, Chandler Real Estate, Foreclosures & Short Sales, Phoenix Real Estate. Tags: , , .

Research before choosing a Realtor – or a lawyer DOING THE RIGHT THING IN REAL ESTATE

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