My client took out  2 loans in 2005 for a total of $329,000 sales price. (Chase is the first, HSBC the second)

In 2010 they applied for and were granted a HAMP loan modification on the first loan. It gives them 2% interest on $149,000 for 5 years and places $99,000 in suspense.

The loan servicer is OCWEN who just denied a short sale. It was denied because the client did not live up to her HAMP agreement, was not deliquent on her loan and after I protested and asked to have the file reopened was told verbally the investor wanted full payment of $149,000. ??

OCWEN refuses to divulge who the investor is, but checking online it appears to be Chase.

Have any of you come across this?

I have a back up offer for more money ($125,000) OCWEN says ditch the first buyer and bring them the second offer. At this point I have gone back to the first buyer with the news a pest inspection repair will cost them between $2500 and $3200  plus we need more money to close. ( I asked them to come up to $125,000) I will give them a chance to come up but the agent is resistant and feels the value isn't there. The offer is not contingent on the pest repair but the buy side is using it as an excuse not to come up on the price.

My concern is I go back with a higher offer of $125,000 and then get rejected again.

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