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Ocwen - Citi Approval Question

Posted by Heather on April 26, 2015 at 9:01am in Short Sale Discussions

We got approval from Ocwen! It expires May 26. The offer has been with the second lien holder citi for 2 mths. What's the chance of approval from citi before the Ocwen one expires???

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Replies

Heather April 28, 2015 at 11:46pm

I was told by the lawyer yesterday that they are doing a analysis and that's what we are waiting for. She emailed the supervisor and hasn't heard back yet. She said it will get approved eventfully. But my concern is the 1st bank. She said they should have given more wiggle time. They gave 3 months!!! She said that Citi was very slow but the are now picking up speed. So annoying!
Justin Berry April 27, 2015 at 8:03am

I would press the 2nd hard and let them know you need a decision ASAP. Usually they'll step up their review if they think the 1st approval is in jeopardy. Escalate.
Jonathan Katz April 27, 2015 at 5:08am

There is not enough information to make an educated guess here. What is the 2nd pending to make a decision?

Brett@ishortsalenow.com

310-564-6389

www.ishortsalenow.com

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