HELP! Suppose to close Monday and waiting on revised letter

Have an approval from OCWEN to pay 2nd lien $3K however 2nd is collection company. The 2nd lien has approved $8K and no less than that. I was able to get the remaining $5K from a combination of the buyer, buyer's agent and myself. OCWEN says they won't approve it and said once again the very most the 2nd can get is $3K. I don't understand why it matters to OCWEN when the funds aren't coming from the seller or an increased sales price. Their net is the same. I tried calling Kathleen mentioned above and she won't accept calls from agents. Any helpful ideas would be great...........escalation tools would be even more helpful. We were suppose to close on Monday but are now shooting for next Friday close.

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My short sale negotiator just got an approval from Ocwen where the buyers agreed to kick in the additional $2400 required by the 2nd.  We sent them a copy of an addendum stating that, and got it approved.

Hello Sheila, same happen to me. Just instruct your friendly escrow company to handle the $5,000 "out of escrow" so that way you can move forward of the closing. Also, how long you wait to get the approval? I started a SS with OCWEN last November and all i get is emails asking me to send some missing documents and even send repeatedly the same documents like buyer's POF. Any escalation idea?

Karim,  I don't think that is ethical or legal to handle it outside of closing is it?   I also got an approval in a very short period of time with OCWEN this time. 

 

Amy, So did you just work up an Amendment simply stating that the buyer is bringing $3K CASH to closing to go towards the 2nd lien holder? 

how long did it take for your ss to get approved Amy? I'm in the same boat with Karim. I never get answers Any words of advice? Thanks

just thought I would update everyone.....................I emailed these two people  '[email protected]' and '[email protected]' on Friday 5/18 and had an email from a new rep on Monday 5/18. :)

 

This file was approved with the new negotiator at the $8K we needed from OCWEN to approve.  It closed this week.  I got a beautiful bouquet of flowers from my sellers and it brought tears to my eyes. 

 

Let's keep passing on good tips..............this stuff really helps.  thanks to everyone who takes time to post their contacts and successes.  God Bless everyone!

Sheila,

 

    Who was your new rep? I've been calling and e-mailing Kathleen and the Ombudsman, and I get no response from either.

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