A few months ago I went into contract with a property in foreclosure.
It's an estate and right when we went into contract I hired an Estate attorney to start appointing the seller (He is the only heir) As administrator to the estate of the deceased seller.
This was not my first time with this exact situation, with ocwen, an estate etc.
Make a long story short this is going on since February 2018.
Back in February, We sent in all estate papers to Ocwen and they want the file to go through modification which if you know is Ocwen's new policy.
How can you do a modification on a deceased person?? Anyways we got the file escalated to a supervisor. And they were supposed to deny the modification request and put it into short sale.
We have not made any movement with Ocwen in almost 5 months!!!
On thursday, my short sale processor 3 wayed me on the phone with the Ocwen Rep.
Ocwen wants the loan to be assumed to do a modification!!!!!! Who in there right mind will assume a loan in default??????????????
So now I either have to get the seller to assume the loan of the deceased or get a court order to rush the short sale.
WAIT! It gets better!!!
Ocwen put the home on the auction list a few days ago & now the property is scheduled to sell in the end of september!!!!
I never had this experience with Ocwen in the past!
Can anyone share there experience or advice?
they are doing the same thing to me right now. They made a wife who is ON THE DEED TO THE HOUSE, but not the note, go through probate to sell the property because "she couldn't sign the short sale approval" - TOTALLY ridiculous
Unfortunately this is what must be done in almost any short sale where there are deceased borrowers and there is no executorship of estate in place.