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Ocwen - Citi Approval Question

Started this discussion. Last reply by Heather Apr 29, 2015. 3 Replies

We got approval from Ocwen! It expires May 26. The offer has been with the second lien holder citi for 2 mths. What's the chance of approval from citi before the Ocwen one expires???

Update Hubzo

Started this discussion. Last reply by Heather Mar 12, 2015. 2 Replies

Update: HubzoWe had to increase out offer to meet the reserve. We were the only,bidder. The auction ended Thursday night and we have not heard a word or email. My realtor talked to Hubzo before she…Continue

 

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Heather replied to Heather's discussion SS with 2nd lien with Citi-need advice in the group Citi Bank
"The lawyer tells me she calls frequently and emails. She did email the supervisor and we have not heard back. She said that Citi was slow but now they are moving at normal speed. She said they have everything they need. She also said the first bank…"
Apr 29, 2015
Heather replied to Heather's discussion Ocwen - Citi Approval Question
"I was told by the lawyer yesterday that they are doing a analysis and that's what we are waiting for. She emailed the supervisor and hasn't heard back yet. She said it will get approved eventfully. But my concern is the 1st bank. She said…"
Apr 29, 2015
Justin Berry replied to Heather's discussion Ocwen - Citi Approval Question
"I would press the 2nd hard and let them know you need a decision ASAP. Usually they'll step up their review if they think the 1st approval is in jeopardy. Escalate. "
Apr 27, 2015
Brett Goldsmith replied to Heather's discussion Ocwen - Citi Approval Question
"There is not enough information to make an educated guess here. What is the 2nd pending to make a decision? [email protected] 310-564-6389 www.ishortsalenow.com"
Apr 27, 2015
Robin Lemmons replied to Heather's discussion SS with 2nd lien with Citi-need advice in the group Citi Bank
"You should be able to get an extension. Typically, banks will allow one extension."
Apr 26, 2015
Wendy Remley replied to Heather's discussion SS with 2nd lien with Citi-need advice in the group Citi Bank
"Something that has served me extremely well with working short sales is to communicate, communicate, communicate. Nag may be a less elegant way of putting it. Have you been assigned a particular coordinator at Citi? My experience has been that once…"
Apr 26, 2015
Heather added a discussion to the group Citi Bank
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SS with 2nd lien with Citi-need advice

Hi everyone,We put a offer in on a short sale in October. Ocwen was the first bank. We got approval from them the end of February. After a very long ordeal. Citi is the second lien holder on the property. The offer has been with them for now 2 months. I know that they get $8500.00 according to the Hud1. How much longer until we get a approval. Our Ocwen approval expires May 26. That took almost 5 months to get. Now I'm nervous and don't know what is taking so long. They ordered a appraisal a…See More
Apr 26, 2015
Heather joined Wendy Rulnick's group
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Citi Bank

Citi Short Sale InformationSee More
Apr 26, 2015
Heather posted a discussion

Anyone?

We got approval from Ocwen! It expires May 26. The offer has been with the second lien holder citi for 2 mths. What's the chance of approval from citi before the Ocwen one expires???
Apr 26, 2015
Heather replied to Heather's discussion Update Hubzo
"Thanks Brett. Now we are waiting on the bank to approve the Hud1 with the plumbing on it. The Hud 1 was submitted the week before last and now still no word. The lawyer on it for the sellers hasn't repsonded to my realtor in a few days.…"
Mar 12, 2015
Brett Goldsmith replied to Heather's discussion Update Hubzo
"The file will need to continue being reviewed, but you are pretty much in the door. Now they just need to cross their T's and dot their i's with all the paperwork. It may still be a few weeks before you get to…"
Mar 11, 2015
Heather posted a discussion

Update Hubzo

Update: HubzoWe had to increase out offer to meet the reserve. We were the only,bidder. The auction ended Thursday night and we have not heard a word or email. My realtor talked to Hubzo before she put the bid in. We were told that we could included on the Hud the pipes that were stolen and Ocwen would approve up to 10% on closing costs. So now it's Sunday and we have no contact. Does anyone know how long it takes for them to respond. We met the reserve price and no one else bid. What happens…See More
Feb 22, 2015
DON BUSH commented on Heather's blog post Ocwen Short Sale-Help!!!!
"OCWEN/HUBZU is a mess. Our experience, no one would bid. They sent offers directly to us."
Feb 9, 2015
Heather replied to Heather's discussion Ocwen short sale-help! in the group OCWEN
"Thanks! How long does this process take after it gets posted on Hubzo?"
Feb 9, 2015
Brett Goldsmith replied to Heather's discussion Ocwen short sale-help! in the group OCWEN
"Ocwen likely is in 1st posistion if they are requiring the file to be placed on Hubzu. Hubzu is an online auction platform. Ensure your agent registers you for the auction and monitors it if you are interested in still acquiring the property.…"
Feb 8, 2015
Heather added a discussion to the group OCWEN
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Ocwen short sale-help!

Hi everyone,We put a offer in on a short sale. It was submitted to the bank in October. There is two mortgages from what I know. Ocwen is the second holder from what we know. We were told in Novemeber that we would know in 10 days as it was submitted to the lender for final approval. Since then they have requested more paperwork from the sellers and we were told around Christmas time it was now in review for another 30'days. There is a attorney working with the sellers. We got a phone call…See More
Feb 8, 2015

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First Name
Heather
Last Name
Simpson
Are you a...
Buyer
State
Mass
City
Somewhere

Heather's Blog

Update Hubzu - Ocwen

Posted on February 8, 2015 at 2:08pm 0 Comments

So last week the house was broken into. The copper pipes were stolen from the basement only. We are still waiting for Hubzo to approve the application to post the house. We have been ready to close for months now. This could have been avoided if they accepted the offer months ago. Now we have to decide if we want to pay to replace the pipes be cuase the homeowners insurance policy
does not cover theft. This sucks. Ocwen has had the file for months

Ocwen Short Sale-Help!!!!

Posted on January 28, 2015 at 2:41pm 4 Comments

Hi everyone,

We put a offer in on a short sale. It was submitted to the bank in October. There is two mortgages from what I know. Ocwen is the second holder from what we know. We were told in Novemeber that we would know in 10 days as it was submitted to the lender for final approval. Since then they have requested more paperwork from the sellers and we were told around Christmas time it was now in review for another 30'days. There is a attorney working with the sellers. We got a phone… Continue

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