Cathy Baumbusch
  • Female
  • Alexandria, VA
  • United States
  • VA
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Cathy Baumbusch's Page

Latest Activity

Cathy Baumbusch replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"Thanks Kylee! I love my job! I don't really like short sales but I tend to get them and with the exception of one that I've ever taken on, I get them approved!"
Jul 21, 2015
Kylee Roe replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"Congrats! Knew you could get it done!"
Jul 21, 2015
Cathy Baumbusch replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"Hi, I subsequently found out that Ocwen did not exactly tell them to move out. They received a letter during their Deed in Lieu process that listed a number of items that they had to comply with in order to proceed with the Deed in Lieu. One of them…"
Jul 21, 2015
Cathy Baumbusch commented on Julie Lyons's group Nationwide Credit Inc.
"I received a letter that was password protected. The format for the password was the last 4 of the borrower's social and the last four of the reference number in the subject of the email. It was an approval letter. The approval only took a…"
Jul 20, 2015
Maria Strong liked Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out
Jun 5, 2015
Dean E Eshelman, CPA, CDPE, IRES replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"Can they move back into the home?"
Jun 5, 2015
Cathy Baumbusch replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"I don't know what this is because when I clicked on it, it said "session expired"."
Jun 4, 2015
Cathy Baumbusch replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"That's not what the forms say."
Jun 4, 2015
Cathy Baumbusch replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"Well, I'm certainly going to try for that. They feel like they did "everything Ocwen told them to do" and now they are being penalized for it."
Jun 4, 2015
Cathy Baumbusch replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"Well, they left well before they hired me unfortunately."
Jun 4, 2015
Kevin - Greenville, SC replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
Jun 4, 2015
Kevin - Greenville, SC replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"ocwen has short sale programs other than HAFA that forgive deficiency. Your client needs to be speaking with their congressperson as well."
Jun 4, 2015
Kevin - Greenville, SC replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"they still should still qualify for HAFA if they don't live there, but no to the relo incentive. NEVER EVER LEAVE UNTIL FORECLOSURE OR SALE."
Jun 4, 2015
Kevin - Greenville, SC replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"non occupancy is not an valid reason to decline someone for HAFA."
Jun 4, 2015
Cathy Baumbusch replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"Well, no, they (Ocwen) are going forward with conventional short sale. However, with conventional, a) there is no $10k incentive and b) the balance is not forgiven, they could still come after them for the balance. The balance is over $200k."
Jun 4, 2015
Kylee Roe replied to Cathy Baumbusch's discussion Ocwen denying HAFA because owners not in property - but they told them to move out in the group OCWEN
"Hi Cathy, Is HAFA the only short sale you can do? Does it have to be HAFA? I would send an email to the Ocwen short sale team and copy Micheal Rapp on it. Keep it detailed but brief and ask for help. Be sure to attach written communication from…"
Jun 4, 2015

Profile Information

First Name
Cathy
Last Name
Baumbusch
State
VA
City
Springfield
My Profile
Short Sale Maven

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At 10:41am on January 29, 2012, Jan Sanderlin said…

Hi Cathy, Please consider the situation...I understand your confusion...Wife deeded off of title, but is not without responsiblity.  If the Lender forecloses then the deed reverts back to the original owners and it will be as if the quit claim never happened.  So, yes, the wife has to acknowledge the short sale as she is still on loan but not on title.  She released ownershio but didn't release liability as she is still very much on loan, The only way that she walks away with out risk is if her husband had refinanced or they transfer title...She is still very much on the hook until lthe property transfers title through shortsale...She signs all of the bank forms but doesn't sign the purchase or list contract.  She is party to the short sale becasue she is still on loan but not party to the purchase or list...Think about it from the side of the bank...their main issue is liability in all situations...I have done too many of these and know the drill, also spent 13 years in corporate and retail banking...Bank's mantra is liability, liablility, liability...and how to minimize this...

 
 
 

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