Home Buying in 93551>Question Details

Lorszulak, Home Buyer in Palmdale, CA

Buying a house and haven't heard from sellers (Ocwin altisource) recommended escrow company in 3 weeks. Was suppose to close on 7/8. What do I?

Asked by Lorszulak, Palmdale, CA Sat Jul 9, 2011

do now? buying our first house in west palmdale, house is supposedly owned by Ocwin which is a affiliate of altisource. In the contract they suggested a escrow tittle company at a discount price, premium title of california in irvine. After sending in out earnest deposit I nor my lender or agent has heard from them. My lender has been trying to get a hold of them for the last four weeks now with no success. My agent already filed a formal complaint to the DRE but that doesn't change whats happening now. I did some research last night on the Internet and turns out that the tittle company and the sellers listing agent David Judge are all affiliated with altisource. Horrible reviews for the escrow company, some people were 53 days past escrow with no word. What do I do? I have to be out of my apt by the end of the month!! I need advice on what to do. Worst case scenario how do I get the earnest deposit back if they don't respond? report fraudulent behavior to the bank?

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Answers

11
Ganesh Vembu is apparently a key player at Altisource. I'm telling you from experience, if your want your problems with Altisource & Premium Title resolved immediately, contact him!
ganesh.vembu@altisource.com
1 vote Thank Flag Link Wed Aug 10, 2011
Good luck. I have ben trying to close a cash deal for 75 days and Altisource/Premium return no calls or return emails recently and phones always go to voicemail. Be sure to check legal description, tax id and preliminary title report as mine have been incorrect 3-7 times despite repeated efforts by buyers agents and buyer to point altisource in the right direction. I shudder to think how many people have bought homes and do not a a good deed as a result of alttisource.
1 vote Thank Flag Link Wed Aug 3, 2011
Thanks for the replies, well some good news to report. I have been exchanging emails with Ganesha and it seems that there is more communication at this time. Right now ocwin is suppose to submit the the lowered price of the house to escrow so we can get the ball rolling. Appraisal came in a few thousand short of the asking price and ocwin agreed to the lower appraised value. Escrow just needs the document stating it. Susan, I will forward your contact info to my agent.
1 vote Thank Flag Link Fri Jul 22, 2011
Dear Buyer,
I am very concerned about the lack of responsiveness you are experiencing. Please do reach out to me with your escrow number and I will have this file handled on priority.
Ganesh Vembu
ganesh.vembu@altisource.com
770-612-7007-1-297672
1 vote Thank Flag Link Tue Jul 19, 2011
I know this post post is over a year old but I had to jump in. Altisource had been nothing but a nightmare. I've had several transactions with you and it is the WORST experience any buyer/investor/agent will go through. I too know about the dozens and dozens of unreturned phone calls and e-mails. Want to close on time? Forget it, it just doesn't happen! HUD, Freddie Mac, Fannie Mae all go so smoothly on closing, why is Altisourse so imcompetent?
Flag Sun Sep 23, 2012
I am having similar problems with this company. I want to scream! I just checked the Better Busines Bureau and shockingly there is only 1 complaint on record. I can't believe this after reading all of the horrible reviews of this company online.

I have let them know that if our situation isn't immediately corrected, then I will be contacting every government agency that I can. This company should be put out of business!!
Web Reference: http://www.SusanMiulli.com
1 vote Thank Flag Link Mon Jul 18, 2011
I am going through the same thing. I just want to know if you actually closed escrow and now you own your home. The worse thing that could happen is if this company does not exists and that my money ends up far away in another country.

Please let me know if all of you at the end (very, very late) closed escrow.

gabrielbernal73@yahoo.com
0 votes Thank Flag Link Wed Feb 8, 2012
Yes, I contacted Ganesh right after I posted this and he tried to get some action but it appears he had to escalate to the SVP in charge of escrow in Luxemburg. I finally got a copy of a recorded deed on Monday the 8th, 7 weeks after it was orignally supposed to close and 2 weeks after they had been supplied with an addendum to release funds and allow to move to a legitimate title company. County records showed it was trying to record to the wrong address that they had been providing on preliminary title reports and HUD-1's for the last few months. They apparently don't have a good handle on their systems. Also continued to battle with them on the county taxes until Wednesday night. They were trying to stick me with property taxes on the house from January 2011 on. They were very frim in their belief they were correct inlcuding the manager of escrow in California. I strongly suspect they have done the taxes wrong on every property the have handled in Arizona. Still waiting on the final paperwork to see if they really got it right. I really feel sorry for my agent. I'm sure he did not even make minimum wage for the efforts put into getting this deal done.
0 votes Thank Flag Link Thu Aug 11, 2011
Please have your agent contact me privately. I have some information that may help with this situation.

Susan
0 votes Thank Flag Link Fri Jul 22, 2011
I think everything that Ron Thomas has listed is right on the money. I was under the impression that the house is in Palmdale, and if that is the case, you might want to contact the D.A. and BBB in the Palmdale area. Best of luck. It is scenarios like this that make the consumers look down on the entire real estate profession.

Kindly,

Amir H. Kazemzadeh
President, Real Estate and Mortgage Broker
DRE License 01813512, NMLS 309986
Certified General Real Estate Appraiser, OREA License AG029627
ASAP Real Estate Services • an ASAP RES, Inc. Company • DRE License 01862782, NMLS 322735 • "SERVING ALL (APPRAISALS, LOANS, AND LISTINGS) OF YOUR REAL ESTATE NEEDS"
ASAPPRAISALS • an ASAP RES, Inc. Company • "YOUR REAL ESTATE VALUATION EXPERTS" - PROUDLY SERVING THE LOS ANGELES, ORANGE, AND VENTURA COUNTIES
26504 Bouquet Canyon Road, Suite 227
Santa Clarita, CA 91350-2353
661.735.ASAP
818.674.2043 Cell
661.999.3328 Fax
amir@asapres.com
http://www.asapres.com
http://www.facebook.com/asapres
0 votes Thank Flag Link Mon Jul 18, 2011
I have same issue. I spoke to David Judd , listing agent, he said that he suggest sending addendum to change escrow company for now. premium title has let go of both senior managers, so there is a delay because of it. let's hope this is correct info as I have $6000 EMD in escrow.
0 votes Thank Flag Link Sat Jul 9, 2011
My heart goes out to you on this: things are hard enough without more of this:

You might contact a good TITLE company in palmdale, I would recommend North American Title, First American Title or Chicago Title; all of which I have worked. The fees they charge are very close and probably not worth researching. (you get great service and that's what's imprtant.)
The Title Company may be able to request a transfer of the Deposit from Premium to them; ask them.

Next, the District Attorney in Irvine is not going to allow this to happen on his watch. Call him, make an appointment and go see him. Take your Agent if he will go.

Contact the Better Business Bureau in Irvine; they can help put pressure.

Follow up with a phone call to the DRE, make them understand the time and seriousness.

You may want to start a lawsuit, to show everyone that you are serious and "for real" not just a "whiner".

Good luck and may God bless
0 votes Thank Flag Link Sat Jul 9, 2011
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