If you're working with Ocwen and receive their short sale package, just be aware that they claim they do not give extensions on the sale date. They would rather go through foreclosure. Borrower attempted a 2nd loan mod, but has not been successful and received a Notice of Sale a few days ago. Property is listed and in the MLS. Ocwen says "their policy" is not to give extensions, claims it does not cost them $40,000-$50,000 additional to go through foreclosure, however the rep I spoke to was unable to state their actual cost--he probably didn't know because he was at the corporate level. The rep claimed to be uninterested even if a strong offer and short sale package were to be submitted prior to the sale date. And, even though Ocwen is listed as a participant in HAFA, this representative from the Ombudsman's Office seemed to not have any working familiarity with the requirements of that program, or even if Ocwen was required to fully comply with its requirements.

If anyone has any other information to share on this, I'd certainly like to hear it.