OCWENS response "investor said buyer can purchase the property at the auction when they foreclose"

I have had this property submitted since January. Property is worth 240k. 100k in repairs needed (mold, structure, asbestos, etc.). Buyer offers 180k. Kathleen Robinson tells me to get contractor estimates with color photos. I do so. I submit. OCWEN calls me and says they (the investor- Lehman Brothers Holdings), is denying the short sale. No reason. They then proceed to tell me if the buyer wants the property they can by it at the auction when they foreclose. Low and behold, i recorded the conversation. In the state of NY, it is legal to do this. I will forward this conversation to the attorney generals office. I will let everyone know the outcome.

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Replies to This Discussion

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on April 30, 2012 at 12:18pm

So really what they told you is - they want to get around the commission and closing costs.

Permalink Reply by Darren Bell on April 30, 2012 at 12:20pm
Best part is foreclosure probably wont take place for another 2 years. And when that happens i will be sure to instruct my client to speak to his lawyer about postponing it
Permalink Reply by Kevin - Greenville, SC on April 30, 2012 at 3:03pm

Darren,

Quite honestly I would wonder if Ocwen has even talked to the Investor.  I would keep pushing and try to contact someone higher up at Ocwen along with possibly the Investor.

Permalink Reply by Darren Bell on May 2, 2012 at 2:34pm
Needless to say, today i raised the offer 30k and got thenapproval in the same day. Kathleen and her team did a good job afterall.

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