Short Sale Denial
My client approved a loan modification for the amount of 156k at 6% interest rate, after two years attempt, He decided to do a short sale due to the reason he still be high underwater. the IBO value came back as $120k. We bought two cash offers at least the house value and appraised. They denied both time and demand the net value of $156k, After GMAC sold to ocwen, my client had a hard time dealing with them and now he has to suffer the negative impact on his credit. We have made best attempts and make effort to avoid foreclosure. Advice please how to get this short sale approves or file a legal action with Ocwen. thanks!
Replies to This Discussion
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Permalink Reply by Ellen Barbara on
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I filed my complaint with the Consumer Financial Protection Bureau first ... then the DFS ... within 24 hours of filing my complaint with the CFPB ... I had an approval ...
Personally, I think Ocwen is trying to play "God" with peoples lives and homes ... families are falling into despair because of their inappropriate business practices ... the only way to stop them is to let our voices be heard ... -
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Permalink Reply by Michael Rapp on
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Good Morning,
You can contact me directly, my team can review further to see if there are any additional options to resolve your request.
Michael
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Permalink Reply by Bryant Tutas on
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Thanks for helping out our members Michael.
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Permalink Reply by Saurabh Singh on
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I am glad that more and more people are now coming forward to register their complaints with regulatory agencies. Please make sure to submit your complaints with both the CFPB (855-411-3372) as well as DFS - File a complaint. I will keep following up with regulators and government officials to make sure we get William Erbey, Ronald Faris and William Shepro punished soon.
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