PattyCulpepp…, Home Seller in 72118

I'm doing a Deed In Lieu. How do I guarantee that the mortgage company will pay relocation funds and do it on the closing date?

Asked by PattyCulpepper, 72118 Fri Oct 19, 2012

They wouldn't even consider a loan modification and wouldn't even tell me why, so I don't trust them. Ocwen is the mortgage company.

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Daniel Alvar…, Agent, Weehawken, NJ
Fri Oct 19, 2012
Are you aware of the HAMP loan modification program?

If you were denied a HAMP loan modificaton then you'll likely qualify for HAFA (HAMP denial is a prerequisite in order to get accepted into this program). Ocwen is on the list of participants.

HAFA rundown:

1) You must first attempt to short sale the property for a minimum of 120 days before a deed in lieu
2) You will be granted up to $6,000 in relocation money regardless of whether you short sale the property or give the deed in lieu
3) The lender would have to waive any and all deficiencies.

Your best bet right now is to find a counseling agency on the website and have them work this file and get ocwen to play fair.

Good Luck. Please feel free to share any updates. I hope it works out for you.
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