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Does additional Buyer contribution to junior lien need to show on first lien's approval letter?PLUS the HUD?

Posted by Pat Hood on August 4, 2018 at 10:57am in Short Sale Discussions

Hi,

Ocwen first and RTR second. Have Ocwen approval letter with them paying 8% of balance due to RTR.Ocwen contact said if I need more for junior to put as buyer contribution to the junior lien on buyer side.  Now title telling me Ocwen approval letter needs to be re-done to state higher amount going to junior lien...

Is this correct? Never had it done that way in the past. Just had  additional  shown on HUD which first lien must approve. Has something changed or is it just this title company???

Thank you,

Pat Hood

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Replies

  • Pat Hood August 17, 2018 at 7:58am

    Brett,

    Thank you!

    Pat

  • Jonathan Katz August 6, 2018 at 4:25am

    Ocwen needs to approve the contributions on the HUD to a JR lien holder as certain investors don't allow contributions. Typically these contributions do not show up on the approval letter but it still needs to be approved. HUD approval should suffice for title.

    Brett@ishortsalenow.com

    310-564-6389

    www.ishortsalenow.com

This reply was deleted.
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