final approval letter timeline- PLEASE HELP- NEED TO CLOSE BY FRIDAY

We are a buyer looking to close on a house serviced by Ocwen. Our short sale negotiator sent over the final HUD on Monday morning and we must close by Friday as that's when some of the releases for the liens start expiring. Do we have a shot to get it in writing- already approved verbally in the new 2 days or are we finished?
Thanks!

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Can you explain what does "releasing for the liens start expiring" mean?  Service release perhaps?

Some of the liens will expire on Friday.  The IRS, gas company, electric company, etc.  There are approx 12 liens on this property but the big one is the IRS.  It can take 2-3 weeks to get them to extend.

They will all release if we close by Friday.  After Friday, we have to work with them all again.

Whoever is handling the short sale needs to call Ocwen asap.  My experience is that Ocwen will actually stay on the phone while the HUD is tweaked and approved. they are very easy to work with on getting HUDs approved. But if you don't call it will sit.

Also, most iof the Ocwen deals I do do not even require HUD approval as long as the numbers are the same as the one that was submitted to get the initial approval.

There is no reason why this shouldn't get done in time.

Is is the same thing as final HUD approval?

Short Sale Approval Extension request needs to be approved.....

That is correct...

However since the approval says that you need to provide them a Final HUD you must get the name of the person in India SS dpt and the Supv. Knowing that no final is required cover your back and get names, all of their calls are recorded.

I agree with Bryant although I would get names...

Liens don't expire but the approval does. I remember having an extension from OCWEN last year on the closing even after repeatedly saying  they don't extend. Email everybody even the OCWEN'S CEO, your voice can be land in someone that can help, also talk the a lawyer to see if somehow extend the foreclosure date, if the property has a foreclosure date. Good luck!

No threat of foreclosure yet.  We have been holding on for just under 2 years but the delays are unreal.

thank you to all- I have passed all this info to Significa and the seller's real estate agent.

Beside the contacts listed on the discussion group, anyone have someone we could contact directly?

My realtor just clarified- the HUD did change slightly and the letter we have says we can not close because we are outside of the date. The title company will not close until the letter is extended with the date changed.  Any ideas of who to contact for that?

I do have a Mrg name send me a msg to send to you privately if you want

Thank you.

We just received word that it is coming at 4:30 today so we can close tomorrow.

fingers crossed.

Yes, Ocwen short sale reps (not the Customer Service reps) will stay on the phone to work out the detailed line items on the HUD. Today I was on the phone with one and made a 3-way call to bring on my escrow agent. I sat there quietly while the two of them hashed out the nasties until they had a final HUD. The escrow officer emailed the final directly to the rep while we were still on the phone, and he approved it right there. I was stunned, after having beat my head against the wall with them for 4 months trying to get the thing done. Of course, maybe it was nearing 5 p.m. in India, and he wanted to go home.

thank you everyone.  Still waiting to hear from Significa if they actually got the letter approving us to close.  Settlement is scheduled for 3:30 but without that document it's over.

this has been escalated twice and the Ombudsman has been contacted.  Any direct people to contact?

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