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Do you know if Ocwen offers relocation assistance on second lien short sale only?

Posted by Mayra Espinosa CDPE, HAFA, SFR on October 3, 2017 at 9:16pm in Short Sale Discussions

I am dealing with a short sale only on the second lien holder. The first will get pay in full, but there is not enough money to pay both. However, the seller was hoping to get relocation assistance.

Please share your experience with Ocwen if you have obtained relocation when doing the short sale only on the second loan. Thanks

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Tags: CA, Ocwen, Pacifica, assistance, foreclosure, lien, only, relocation, sale, second, short
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Replies

  • Jonathan Katz October 28, 2017 at 5:11am

    I would say that it's more of a rarity that a second mortgage lender like ocwen mortgage to give ocwen customers (ocwencustomers com) on an Ocwen Loan. It's possible that certain lenders like Select Portfolio Servicing are a little more flexible but it's not really up to Select Portfolio as much as it's up to it's investors. Chase Mortgage and PNC Mortgage are also questionable.

    Best of luck and let us know how it goes.

  • Jonathan Katz October 5, 2017 at 9:59am

    Relocation programs are 1st MTG programs. If a 2nd lien allows relocation then they allow it. No way to know unless you ask.

    888-559-5956

    www.ishortsalenow.com

    Brett@ishortsalenow.com

  • Minna Reid October 4, 2017 at 3:55am

    I've gotten this with Citi..10k...there are no standard rules on seconds only. You just may not know til approval. I always throw it on my CD just to try. 

    I think your safest bet here is to tell your client to expect nothing, but that you will try. You just can't guarantee anything.

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