Help!  I am actually trying to buy a house and waiting for it to be short sale approved by Ocwen.  My realtor has called to check in and they said they did receive the owner's paperwork and our offer(a week after we faxed it).  They say they will not be able to review it for at least 20-30 days.  Unfortunately, this is our second offer to Ocwen considering the first was not looked at because the owner did not have all the paperwork in.  Since it has already been over a month, I don't really want to give them another 30 days to review the paperwork.  Any suggestions on what I can do?  Is it possible for me to call every few days to check the status?  I feel like I am driving my realtor crazy because I would like him to stay on them--Especially after reading all of the horror stories with Ocwen short sales.  Any advice to help speed up the process would be great!  We have to be out of our house on Feb. 25 and I am desperate to hear something by this date!!

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My opinion, you are not going to rush Ocwen and the odds of your being in that home by 02/25 are near zero. You'll just drive yourself insane trying to hit that specific closing date. It appears you need a month:month rental to work on this deal.

Hi Ronie:

 

I totally agree with Michael. Short sales and specific time lines don't go together. Ocwen short sales can take 3-5 months to close after the offer is received. You can call them all you want, but they have stacks and stacks of short sale files that they basically process sequentially and all the begging and pleading in the world isn't going to move your file any faster than anyone else's.

Thanks!  We knew it would be impossible to be in the house by 2/25 but I hoped to at least hear positive news before then.  I just hate hearing that they may not even look at the file until then.  We have to give our rental place  an idea of how long we will need the house and right now we keep saying we have no idea. 

Ronie,

I agree with both comments above and would plan on being in your rental til at least the end of May.

I'm still in process on two different files going over 8 months now....
I may be able to get your deal closed faster. Give me a call 229-561-4426
Looks like Ocwen is at least looking at our paperwork now!  My agent got a call yesterday from them saying that one item on the HUD needed to be changed.  My agent thinks this is good news for us since they are actually calling US and that seemed to be their only hold up.  Has anyone else had this happen and does this mean that we actually are getting close to a decision? 

good morning Ronie! I have a couple files with Ocwen right now, one of them has been assigned to 5 different negotiators who have asked for a dozen revised HUD's. Please dont get your hopes up. That specific file started in July 2010, just got approval this week, with only 8 days to get the deal  closed. Buyers are obtaining an FHA loan....HUM think we can pull this off in 8 days?! I think NOT!

Good luck to you and your file!

Oh NO!  I was so hoping this would be good news to start the weekend. 

I have followed the advice on this page, I have contacted Ron Farris and Joanne Perez many times, they do seem to get things rolling....you might reach out to one of them?

AND maybe your file will go differently :) positive thoughts for you!

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