Firstly Im the buyer. My realtor is not very experienced with short sales. Im trying to help with info from theses boards. We have an approval from Ocwen and they state we MUST close on or before 5/5/13. That fine but they are they SECOND. The first is Greentree and they have agreed to nothing. She called Greentree they told her to call back in a few weeks but they have looked at anything yet. I have two questions #1 why did we bother working everything through Ocwen they are the 2nd? The arms length  and every was submitted to them first. #2 theres no way I can get a loan finished and close by 5/5/13 waiting for Greentree to decide to do what ever. So should I just move on?

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Just a update on where Im at. Green tree approved the short sale for $64,000.  They are basically giving nothing to Ocwen. Ocwen wants $6400 or 10%. This is not looking good at all. The house only appraised for $61000  but I asked for sellers help and they came back higher. My biggest problem is that as much as I like this house Im already paying about 7k more than its worth. There is a nice home right around the corner for $65000 and it is a bigger home just dose not have the huge porch this one does.This home is in poor shape and needs TLC. After coming this far I may have to walk away. Im not going to pay the 2nd lien off as that would put me paying more than 12k over what this house would sell for it it was in excellent shape.  When this house goes to foreclosure it will sell for about $20000 and Im sure that is what all parties want as they refuse to budge.

Ive even thought about offering $67,000 and asking that the surplus go to Ocwen. But Im not sure it works that way. I was assured that they would counter but I never thought we would hit a brick wall like this.

Yet another update, Im now 119 days into this. 97 days have been dealing with Fannie mae. It took them a month to get a BPO. A month to counter at 20% higher. And now over a month this time around. They kept telling us that the second mortgage could not be included but then finally allowed it. That eat up 2 weeks though. The green tree negotiator said Fannie is doing some updating so they are not getting back to them on time. So much for a 60 days on a yes or no.

Im now at the 120 day mark. We have been fought EVERY step of the way. All three lenders have done their best to tank this. Green tree being very slow unresponsive not wanting to let the second mortgage on the deal. Ocwen wanting 10% and taking forever too. Fannie Mae being the worst part of it. They just dont respond. At all. They gave us a BPO after 45 days. That is all they have done. No other correspondence for them. We have been working with Fannie Mae for almost 4 months.

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