Ocwen DENIES sale offer TOO LOW, but NEVER ordered BPO...gotta love it.

I have a house that I've had 6 buyers on. I've gone through THREE servicers, and a bankruptcy and seen the value of this house go from $180,000 now down to $97,000 (appraised value) - house is now vacant, was improperly winterized, and now the foundation is separating from the house.

I got an offer for $110,000 - Called every day, in review, in review in reveiw. - TODAY DENIAL. Offer too low!!!

??????? I did a cost analysis for Ocwen and showed them they would net almost $20,000 if they took the short sale offer.

I'm at a loss.

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Replies to This Discussion

Permalink Reply by Michael Schneider on April 27, 2012 at 3:50am

Could have been a drive by or based on indexing (eg, FISERV Case-Shiller, based on geocoding and orig appraisal)

I've been successful with Ocwen, with property where FMV is WAY below expected, based on area, size, etc, in similar circumstances. I disputed, send pictures, convinved them that the offer was FMV, which truly it was.

Permalink Reply by Smitty on April 27, 2012 at 6:28am

Michael, I included full blown appraisal of $97,000 and the offer was $110,000. Should be a no brainer.

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