I have a listing of a home that was financed by Onewest/Indymac. I was hired by the estate of the deceased homeowner. The owner passed in April, 2011. Owner became delinquent about November, 2011. Onewest is seeking pay off including penalties and interest on the mortgage since homeowner stopped paying (due to death) for about 6 months.
Home is for sale and looks like will sell, but owners would like to negotiate the pay off of this interest only loan and at least have the penalties wiped out and just pay off the note.....
Note is $305,000, with penalties they are looking for a pay off of $325,000.00.....
Anyone have a contact or some advice on how to move forward? Thanks in advance
Just contact the lender and run it by them. See what they say. Then negotiate.