Short Sale Assistance Please
Greetings to all,
I am attempting my first short sale. Seller is not in foreclosure yet but very close. Seller does not care what I do and will sign anything.
Property is ideal for short sale, Needs repairs and is way overfinanced for the comps in the area.
Problem... Ocwen is the lender. I have called and faxed a release and they have accecpted it. Directed me to an individual that should be able to speak with me about a short sale package.
All I can get is voice mail. I have left several messages, emailed, and faxed; all to no avail at having someone contact me. It has been nearly two weeks.
Is this normal and should I just wait or should I get aggressive and contact the first number again for more help?
Thanks in advance for any assistance.
Eyes
"Seller is not in foreclosure yet but very close"
The lender has no sense of urgency. Chill.
At this stage, you might consider seeking to purchase the mortgage, via an assignment.
>At this stage, you might consider seeking to purchase the mortgage, via an assignment.<
Thank you for your reply. Could you elaborate on the above just a little more?
Eyes
"I was under the impression that lenders only sold loans in bulk..."
Depends entirely upon the position of the mortgage, the lender, their philosophy of the day, and whether your Proposal is compelling enough to get them to sit up and take notice.