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Carlos Orozco, Real Estate Pro in Rancho Cucamonga, CA

Has anyone recently had any luck getting a Short-sale approved with OCWEN!?

Asked by Carlos Orozco, Rancho Cucamonga, CA Mon Jun 11, 2012

I had a short seller that was originally with Chase (last Nov.2011) and we had an offer approved, but the buyer walked! So we put it BOM, and after just a few weeks on the MLS, we received an all cash buyer (for more $10k more!) but just we were waiting for them to do a new BPO and approve the offer, they sold it off and transfered the loan to OCWEN! So I had to resubmit a complete SS package to OCWEN and they keep telling me me that "it's being reviewed"!? They only have one line and it seems they have their calls goin to some call center in Egypt where no one there knows anything about anything or the Short sale process! I hear that OCWEN is notorious for this BS!?

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Marilyn Jenne’s answer
Was able to complete a short sale with OCWEN; with the call center in Australia. Fortunately for me, I represented the buyer, so the listing agent handled the communication. We frequently heard "it's being reviewed" but it did come through. No particular problems nor additional money requests, just the time. So, good luck.
1 vote Thank Flag Link Mon Jun 11, 2012
Let me tell you a little bit about my OCWEN experience. In short, it was a nightmare.

-Full-price offer for the home in JANUARY 2012
-After 5 months of requesting documents they spent probably 6 weeks+ requesting the SAME pre-approval letter that was sent to them 3489761324783821 times.
-After emailing 6000 different people, they informed us that a FORECLOSURE date has been set and WILL NOT be extended
-They approved the short sale and have given us 13 days to fund it (not possible)

In short- I know have an angry buyer and the other agent has a seller going into foreclosure.

Yeah...great company...
1 vote Thank Flag Link Mon Jun 11, 2012
Thanks for sharing or should I say thanks for the warning!!!
Flag Mon Jun 11, 2012
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