Need Help Please

I have an Ocwen short sale scheduled to close on Sept 4. They've sent back a notice saying that they will only allow 8% in total closing costs including commissions. They're giving a 3K HAFA relocation credit to the sellers, will Ocwen allow the sellers to use that amount towards the the costs. We have cut almost everywhere and still 2K over the allotted 8%.

Any assistance is greatly appreciated.

Thanks-

Mary

Views: 331

Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on August 21, 2012 at 12:15pm

Yes.  Under the Treasury guidelines the Seller can use all or part of their Incentive towards closing costs.  However, check the Ocwen HAFA Matrix.

Permalink Reply by Ken Bailey on August 21, 2012 at 1:18pm

Mary--they will go up to 10%, but you have to push them. They will go up to 10% for us because they know we know they will. If you don't get anywhere with your negotiator, then email Kathleen Robinson and explain your situation. She is a manager in the SS dept, and is always a great help to us when we get stuck. Don't expect a response from her, but you should get a response from your negotiator within 24 hours. Her email is [email protected]. Good luck!

Permalink Reply by Jacqueline Casillas on September 14, 2012 at 7:56am

Thank you Very Much Ken, Kathleen was a savior for us. We had a sale date scheduled for 9/11/2012 and we had a short sale approval letter with an expiration date of 10/2/1012. Everyone I talked to at OCWEN assured me there was no sale date yet the Trustee Autournes confirmed a sale date of 9/11/2012 I e-mailed [email protected] pleading for her assistance and she did step in and requested a postponement on the sale date. She made it happen. Thank you Ken for posting her contact on here. :D.

Permalink Reply by Ken Bailey on September 14, 2012 at 9:25am

You're Welcome Jacqueline. I'm glad it worked out for you. Sometimes I swear that Kathy and Joanne Perez are the only people with a brain over there (at least the only ones we've worked with so far). Short sale gods help us all if they ever leave Ocwen.

Permalink Reply by Mary Kent on August 24, 2012 at 9:32am

Hey...thanks everyone-

Permalink Reply by Jayne Sanders on September 15, 2012 at 2:56am

I do a lot of Ocwen. They will allow up to 10% total closing cost to include a max of 6% commission. Request it be increased to 10%...I do it all the time. Escalate if you have to. I also have the Buyer pay some closing costs if needed. Good Luck

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