I am not new to short sales but to Ocwen. Seller has had no income for two years. Is supported by an invalid mother who she is taking care of 24/7 and lives on Social. Has not filed income tax (no income to show). No bank account, no job for over two years, husband walked out and the home was decreed to her after the divorce. She has no money. Period. I am starting the short sale this week and want to know if anyone has gone through this type of no-income-whatsoever pattern. The only supporting document she will have is a hardship letter.

Views: 152

Replies to This Discussion

From past experience a letter for each signed and dated works.  I, "fill in the name" have not worked in over 2 years and I do not collect unemployment, there for I have no pay stubs to provide.  Signed and dated should work for income, and the same for bank statements.  There may be a specific form for taxes but you can try the same for taxes.  Or maybe google it and see what you come up with.  I have done this several times but can't remember which bank.  But as long as they sign and date a document for each you should be fine.  Good luck =)

If you have no documentation then they will require you to write a Letter of Explanation for your situation. It may take multiple submissions because they are a little confused on their end and different departments don't always communicate but that's with most lenders at this point. They will want to see the divorce decree also to make sure that it was legally given to her because they may want to go after the husband. Which in its own self could be a whole other ball game. Check the Prelim to make sure that it's clean and you should have no issues.

Wow, thanks for the prompt advise. The divorce shows that the home was released to her. I will have set up letter to show her lack of documents for her to sign. Do they request RMA's to be filled out? It should make this easier. Fill in zero everywhere.

RSS

Members

© 2024   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************