Replies to This Discussion

Permalink Reply by Brett Goldsmith on January 2, 2014 at 8:48pm

You need to find out what the minimum proceeds that the investor is willing to take from the sales of this property. You also need to look into completing a "value dispute".

Brett@ishortsalenow.com

310-564-6389

www.ishortsalenow.com

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Permalink Reply by Rob E. Kirchner on January 4, 2014 at 3:30pm

Thanks Brett, The minimum proceeds has been established.  When I do the value dispute is there particular forms that Ocwen uses?

 

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Permalink Reply by Mellissa Young-Ramirez on January 9, 2014 at 2:35am

It seems to be a common tactic. I am experiencing same with SLS, so I am sending them all my documentation and reports, including proof that the listing was viewed 119000 times on Zillow in 90 days, if that does not show them that they are not being reasonable, then nothing will,  It is a huge package, I am overnighting, it goes back one year with CMA reports, County Tax Data infor on sales, Inspection reports, repair bid, their BPO and termite report. If they can not see what is obvious on it's face and realize that the offers I have received are in line with market value, then I have to assume, they have no intention of allowing the sale. I will keep you posted

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Permalink Reply by Rob E. Kirchner on January 9, 2014 at 12:25pm

Thanks Melissa,

Yesterday we contacted Ocwen after submitting some comparables and they agreed to lower the price to the same sales price at which we were in escrow.  Had they not done this, we probably would have closed by now.  Oh well, that's life in t;he Short Sale biz.

 

 

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Permalink Reply by Valencia Hodge on January 14, 2014 at 4:17pm

I've been working as the short sale listing agent with Ocwen since the end of November. Last week they informed me I have to go through Altisource and start to process over. Does anyone know how I can get this expedited? Any advise would be appreciated. 

Thanks

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Permalink Reply by Victoria Laws on February 8, 2014 at 7:49pm

Valencia all you need to do is have the seller sign a letter that states they do not want to authorize alto source on their account then Ocwen cannot make them and request your sale be moved foward. I just did it w Ocwen. By law no bank can require a home owner to authorize anyone to have access to their info or speak on there behalf. Alti source tried to force me and I told them I spoke to an attorney and the attorney general and by law the home owner does not have to authorize alti source. See alti source gets part of your commission so of course they are going to push. But my next call was to Ocwen and I was put on hold while rep spoke w management and low and behold as soon as I reminded them it would be unlawful for them to require the borrower to authorize alti source I was told my file is moving foward and alti source was not required. I have closed countless short sales and I know the law. Any short sale that is not going as it should all you need to do is file a complaint w the atty general ( owner must do it and it can be done online) and the atty general will shadow the sale and make sure the bank doesn't play games or do anything to prevent the short sale from being approved!

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Permalink Reply by Mellissa Young-Ramirez on February 8, 2014 at 9:21pm

Thank you Victoria for sharing that!

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