Foreclosure in 60653>Question Details

Tasha Stewart, Home Buyer in 60653

I recently searched on the foreclosure databases and saw a REO property that I am interested in. Its owned

Asked by Tasha Stewart, 60653 Tue Jun 23, 2009

by OCWEN and has a small price tag. Im wondering if this is the asking price? If I offer them the asking price can they counter and ask for money money?

Also anyone know how to get answers from OCWEN? I have been trying to get some info and have not had any luck

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Well, the bank can legally always reject your offer. But with the way things are now in the real estate market, it is not likely that they will, unless your offer is for 10 cents on the dollar or something. It is best to check the title and first, before your buy anything. You don't want to buy a buidling that is in housing court or that is about to be bull dozed. Just take your time with buying in this market! The ball is in your court!
0 votes Thank Flag Link Tue Oct 13, 2009
Jeff- thanks for taking the time out to look more into my issue. Ive taken your advise and decided not to pursue any further. thanks for pointing me in the right direction.

keith- vicky thanks for the OCWEN tips. I actually was able to email their REO department and get the information I needed. So emailing them is another useful tool to add to the bunch.
0 votes Thank Flag Link Tue Jun 30, 2009
OCWEN will have a listing agent that will help sort things out. I am about to close on an Ocwen owned home on the South Side. There were a lot of issues but we sorted all of them out. My clients used a 203k rehab loan to finance all the repairs to a great old home with solid bones.

I would be happy to assist you, as I have a lot of experience with foreclosures and I live in one.
Web Reference: http://www.1sthomegroup.com
0 votes Thank Flag Link Wed Jun 24, 2009
OCWEN is difficult to deal with and they outsourced most of the buiness to india. My dealings have been not good and have had sucess escalating to florida. But my escalation has delt with active loans, rather than loans have been foreclosed.

The foreclosure data bases vary on what that criteria if the property is not listed yet. They set default criteria if no list price, than last sold price or assessed value or judgement amount. I am really only aware about Realty Trac since I am a rep for them in may area.

Sometime you just have to wait or check on the data base who is the attorney who handled the foreclosure and contact them to see if you can get a contact. But you really should get a buyers agent to help you because Ocwen will not want to deal with a indiviual buyer (they are not structured to deal with indiviual buyers) they want a agent to follow through the process to ensure the deal closes if accepted.


Keith Manson
First Weber Group
Certified Distressed Property Expert
Greenfield,Wisconsin
0 votes Thank Flag Link Wed Jun 24, 2009
HI TASHA,

YOU REALLY SHOULD BE WORKING WITH A BUYERS AGENT WHO CAN HELP YOU THROUGH THIS PROCESS. IT COSTS YOU NOTHING BECAUSE THE BUYERS AGENT GETS PAID FROM THE SELLER OF THE PROPERTY. THERE ARE WEBSITES THAT MAY POST PROPERTIES THAT MAY NOT BE AVAILABLE JUST SO YOU WILL INQUIRE ABOUT THEM. NOT ALL WEBSITES ARE UPDATED REGULARLY.

I AM A BUYERS AGENT. I LOVE TO WORK WITH BUYERS TO MAKE THEIR EXPERIENCE BUYING A HOUSE A EASY, RELAXING AND UNCOMPLICATED ISSUE. YOU SHOULD LEAVE THE RESEARCH WORK TO A PROFESSIONAL. IF YOU HAVE TIME I WOULD LOVE TO MEET WITH YOU AND GIVE YOU ALL THE INFORMATION NEEDED TO HELP YOUR PROCESS MOVE EASIER.

SINCERELY,
NICHOLE LATHUS
MCCOLLY REAL ESTATE
708-646-6533
0 votes Thank Flag Link Tue Jun 23, 2009
A secret...when you get the menu hit the spanish button and for some reason, the spanish customer service people at OCWEN are a LOT more attentitive then the regular ones, who by the way are in India believe it or not. They are one of the worst short sale lenders I have ever had to deal with. My guess is because the spanish department is based here in Florida, they feel our pain. The people in India don't care about us at all.

Vicki Watzlawick
Broker Owner/Illinois Foreclosure Expert
Exit Platinum Realty
0 votes Thank Flag Link Tue Jun 23, 2009
Hello Tasha,
I think the foreclosure radar it is a great source for foreclosure information. The default amount is not the price the bank will be willing to take. They are looking for market value prices.
0 votes Thank Flag Link Tue Jun 23, 2009
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