Buyer of an Ocwen short sale in Dutchess county, NY- going on 10 months.

How wonderful to find Short sale super stars!

I recognize that as a buyer we do not have much of a voice in the matter, but I figured I would reach out for some help.

We do not know much.

The seller's attorney is our only connection with Ocwen but the whole deal is also going through the court system. The court has deemed that everything is in order and that Ocwen needs to close. We have gone through 5 addendums and closing dates and supposedly all we are waiting for is the approval letter. Ocwen continues to ask for updated HUD forms and most recently started the process from the beginning again.
The seller's attorney does not feel comfortable calling Ocwen since all of his communication has been through an attorney representing Ocwen or the original bank, we are not sure. The original bank is HSBC.
It seems like Ocwen and the attorney are saying completely different things and communication is a nightmare and very contradictory.

Any advice? Our lawyer does not know what to do and we are to the point of calling Ocwen ourselves.....yet, who would we call?
Has anyone had this happen?
Is it possible that this run around game will continue and then the whole thing will fall to pieces?
Thank you so much in advance for any words of advice...we need a short sale angel:)

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The bank's (plaintiff) attorney is of no benefit to the short sale, except for the limited purpose of perhaps agreeing to postpone an auction date. Who is negotiating with Ocwen? Apparently it's not the sellers attorney, but he, or the seller, should talk directly to Ocwen to find out what's really going on. Ocwen will only talk to someone who the seller has authorized, in writing, to discuss the loan.
Thanks Wayne.

The sellers attorney tried talking to Ocwen ages ago but could not get through their representatives in India. In an act of frustration he took all of the paperwork and forwarded it to the bank's counsel, which I think is the only communication that he has had since.

Who would he call in Ocwen?
Should we look for a short sale specialist to help with this?
Thanks again,
Amy

I do not usually like to comment on topics that I am not certain in, but I recently dealt with a case in NY. We have dealt with several cases in NY in the past and usually there was a real estate agent listing the property and an attorney handling the settlement/escrow/title. I have seen in the past that when the borrower or seller have an attorney representing them in the short sale of their property the bank assigns an outside law office to deal with the attorney which only slows things down by putting an additional party in the chain of communication. Does the seller have a real estate agent listing the property or is it an attorney? If it is just an attorney it might be the cause of the slow down and lack of communication.

I hope this help and please if anyone knows more about what I am talking about feel free to chime in.

Lionel,
I think you are on to something.
We feel that perhaps the real estate agent should contact Ocwen, that way the attorney is not going against the court.
I would love to know if anyone else has had this experience....
I am going to put together an email plea to the seller's agent now!
Best,
Amy

Let us know how it goes. I always love to learn and am curious about your case.

Amy, you DO NOT negotiate a short with plaintiff attorneys, and the "court" doesn't get involved in the short sale approval process. This is Definitely the problem. The attorney is screwing things up, and the listing agent needs to get third party authorization and start dealing Directly with Ocwen.

Wayne is correct!  I just closed an OCWEN short sale and it was easy, approved in 5 weeks. Never dealt with India.

Oh dear...

5 weeks?

Thank you so much for the information!

At risk of overstepping our boundaries I have forwarded along all of this information and asked the sellers agent to sign a third party authorization and to start calling Ocwen.  I forwarded the information found from the Ocwen group.  I will post back when I hear something.  This is so frustrating.

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