Any one have an approved short sale and then have the bank add requirements after (a promisory note of 70k)! Does Ocwen really close files or do they take them back via forlcosure?

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Comment by Martin MacDavid on July 1, 2010 at 10:26am
Ocwen is dificult to work with. Know of brokers that have not been paided for listing maintenance expenses, including electrical and roof repairs. They appear to have a lot of green folks that were in need of a pay check......good luck.
Comment by Ken Morin on June 29, 2010 at 9:22pm
I know a couple that has had 3 loan modifications from OCWEN in the past 3 years and they pulled out $135000 five years ago to put in a fantasy pool. Each year they told me I could short sell their home if the mod wasn't successful but so far they have been lucky.
Comment by Jim Holbrook on June 23, 2010 at 7:55pm
I have not had an Ocwen short sale, but am in the process of completing an equity sale that was facing foreclosure with Ocwen. They gave us a postponement of sale. When I checked the rescheduled sale date...it was two weeks before our scheduled close of escrow. If I had not been on top of it, the property would had foreclosed without anyone knowing. It took me two full weeks of trying to get someone from Ocwen to call me back. I ended up going direct to the investor, Freddie Mac and filing the postponement request myself. 48 hours passed with 3 hours to the Trust Deed Sale and Freddie Mac still had no response from Ocwen. Through the help of great people on this site, I obtained direct numbers for the CEO, CFO and several emails and fax numbers. From 6AM on the day of sale, I fax bombed and email blasted and left messages to Ocwen. The sale was finally postponed 20 minutes before the hour of sale. NOW...we are fighting Ocwen because we are scheduled to close and their payoff statement included a $20,000 escrow account and Ocwen will not provide any accounting for this charge. The Ocwen paid only $445 toward insurance and $5K for back taxes. All I can say is good luck and do not trust anything they tell you, get proof of what ever they offer and double check everything.
Comment by Joseph C. Alfe on June 23, 2010 at 11:53am
We have closed several. In fact, the first short sale I ever closed back in 2004was Ocwen. At that time they had no loss mit dept, and every time we called in, we got someone new. We had an approval and were at the closing table when I had an idea...I called Ocwen, told whomever I spoke with that my approval was wrong and needed it changed and she faxed over right away...6K less than I was originally approved for.
Comment by Wendy Martin on June 23, 2010 at 9:50am
I have never personally heard of a closed Ocwen short sale. Seems they may be getting MI funds, or other incentives not to close shorts. Every Ocwen short sale I have seen here in Oregon/Washington has gone to foreclosure. A huge waste of time, I won't work with them on shorts.

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