Green Tree Fannie Mae 1st Ocwen GMAC 2d - Short Sale Superstars2024-03-29T04:52:11Zhttps://shortsalesuperstars.com/forum/topics/green-tree-fannie-mae-1st-ocwen-gmac-2d?groupUrl=Shortsalehelp&feed=yes&xn_auth=noDid you end up getting the ho…tag:shortsalesuperstars.com,2015-10-13:3468065:Comment:3687292015-10-13T01:10:42.585ZKelly Magreevyhttps://shortsalesuperstars.com/profile/KellyChristineMagreevy
<p>Did you end up getting the house Mike Romone? I know it has been two years since this post but I started reading this blog because I was curious about an Ocwen deal. </p>
<p>Did you end up getting the house Mike Romone? I know it has been two years since this post but I started reading this blog because I was curious about an Ocwen deal. </p> They represent the seller and…tag:shortsalesuperstars.com,2013-06-08:3468065:Comment:3181902013-06-08T02:34:41.288Zmike romonehttps://shortsalesuperstars.com/profile/anthonypeoni
<p>They represent the seller and last time we gave them 90 days this time I want 30.</p>
<p>They represent the seller and last time we gave them 90 days this time I want 30.</p> The Realtor also said that Gr…tag:shortsalesuperstars.com,2013-06-08:3468065:Comment:3181872013-06-08T01:52:09.231Zmike romonehttps://shortsalesuperstars.com/profile/anthonypeoni
<p>The Realtor also said that Green tree has been really slow at doing anything and Ocwen is really trying to derail this by demanding the max.</p>
<p>The Realtor also said that Green tree has been really slow at doing anything and Ocwen is really trying to derail this by demanding the max.</p> Thanks, I just hate to get dr…tag:shortsalesuperstars.com,2013-06-08:3468065:Comment:3181262013-06-08T01:49:17.408Zmike romonehttps://shortsalesuperstars.com/profile/anthonypeoni
<p>Thanks, I just hate to get drug back into this. I love the house but hate this. Ill try this once more. They said Green tree said we could send the HUD in to Fannie with $6000 to Ocwen. I pointblank asked the realtor if Fannie would accept giving $6000 to ocwen and they said fingers crossed.. I too dont understand why Ocwen wants so much when this balance cant be that high.</p>
<p>Thanks, I just hate to get drug back into this. I love the house but hate this. Ill try this once more. They said Green tree said we could send the HUD in to Fannie with $6000 to Ocwen. I pointblank asked the realtor if Fannie would accept giving $6000 to ocwen and they said fingers crossed.. I too dont understand why Ocwen wants so much when this balance cant be that high.</p> Mike, Only you can answer tha…tag:shortsalesuperstars.com,2013-06-08:3468065:Comment:3181252013-06-08T01:39:17.822ZTara Samneyhttps://shortsalesuperstars.com/profile/TaraSemtner
<p>Mike, Only you can answer that. </p>
<p>Did you sign a buyer's agreement with the agent (who is also representing the seller)? If not you may want to consider reaching out to a buyer's agent in your area who is experienced in short sales to help guide this process with the listing agent- who you said had little experience with short sales. He/she can screen the likelihood of the sale closing, better than you, and advise you.</p>
<p>Your agent can help prepare a short sale addendum (or…</p>
<p>Mike, Only you can answer that. </p>
<p>Did you sign a buyer's agreement with the agent (who is also representing the seller)? If not you may want to consider reaching out to a buyer's agent in your area who is experienced in short sales to help guide this process with the listing agent- who you said had little experience with short sales. He/she can screen the likelihood of the sale closing, better than you, and advise you.</p>
<p>Your agent can help prepare a short sale addendum (or whatever is used in your area) giving a deadline for the approval- such as only 30 days (or whatever you choose).</p>
<p>If you signed a buyer's agreement then you must use your agent. Otherwise, if your contract has expired you may seek out someone experienced with them to guide you. That would be my suggestion. </p>
<p> </p> Update Realtor called me say…tag:shortsalesuperstars.com,2013-06-08:3468065:Comment:3180492013-06-08T01:27:58.290Zmike romonehttps://shortsalesuperstars.com/profile/anthonypeoni
<p> Update Realtor called me saying they could get this done but wants me to go back under contract. Im 118 days into this should I??</p>
<p> Update Realtor called me saying they could get this done but wants me to go back under contract. Im 118 days into this should I??</p> yeh, this doesn't make sense.…tag:shortsalesuperstars.com,2013-05-24:3468065:Comment:3155282013-05-24T16:38:07.297ZTara Samneyhttps://shortsalesuperstars.com/profile/TaraSemtner
<p>yeh, this doesn't make sense. All she has to do is ask Ocwen for a payoff balance. Simple. Or ask seller to provide last statement. A realtor has to know the balance to request the 6% to put on the HUD.I get it that the 1st HUD was hosed as she had the loans confused...but then she had to resubmit.</p>
<p>The seller has to put balance on the paperwork to Fannie and Greent Tree for the 2nd. </p>
<p>Tell them you want to know how much is owed to Ocwen and ask to see the HUD that was last…</p>
<p>yeh, this doesn't make sense. All she has to do is ask Ocwen for a payoff balance. Simple. Or ask seller to provide last statement. A realtor has to know the balance to request the 6% to put on the HUD.I get it that the 1st HUD was hosed as she had the loans confused...but then she had to resubmit.</p>
<p>The seller has to put balance on the paperwork to Fannie and Greent Tree for the 2nd. </p>
<p>Tell them you want to know how much is owed to Ocwen and ask to see the HUD that was last submitted. If they won't give you this, you're out. It's impossible to know what your success chances are without knowing this info.</p>
<p> </p> I just talked to them and wha…tag:shortsalesuperstars.com,2013-05-24:3468065:Comment:3157922013-05-24T16:24:56.712Zmike romonehttps://shortsalesuperstars.com/profile/anthonypeoni
<p>I just talked to them and what the realtor is saying now is that they dont know what the balance is at ocwen. Im not asking for any closing cost at all. This realtor is either a totally incompetent or taking me for a ride. This whole thing stinks. I and getting mad now.</p>
<p>I just talked to them and what the realtor is saying now is that they dont know what the balance is at ocwen. Im not asking for any closing cost at all. This realtor is either a totally incompetent or taking me for a ride. This whole thing stinks. I and getting mad now.</p> I think you just aren't getti…tag:shortsalesuperstars.com,2013-05-24:3468065:Comment:3156842013-05-24T14:31:04.227ZTara Samneyhttps://shortsalesuperstars.com/profile/TaraSemtner
<p>I think you just aren't getting told everything or your agent doesn't understand it. If you are paying more than their BPO, aren't requesting much in closing, and there is only the Ocwen lien it makes no sense why they would paying 6% of Ocwen's balance. Yes, Fannie has a net. Fannie should already be netting it with that. What are you requesting in closing cost?</p>
<p>A HUD being rejected 4x before an approval (which you don't even have b/c you don't have a letter) is a lot. Usually…</p>
<p>I think you just aren't getting told everything or your agent doesn't understand it. If you are paying more than their BPO, aren't requesting much in closing, and there is only the Ocwen lien it makes no sense why they would paying 6% of Ocwen's balance. Yes, Fannie has a net. Fannie should already be netting it with that. What are you requesting in closing cost?</p>
<p>A HUD being rejected 4x before an approval (which you don't even have b/c you don't have a letter) is a lot. Usually it just comes back once with changes. Even with GT. </p>
<p>It also doesn't make sense the 2nd loan is $60,000 if it was a piggyback for 20% and I doubt there was a HELOC for that if the home is worth so little now. I don't understand why the agent won't explain this to you. </p>
<p>Ask to see the last HUD that was submitted. If the seller gave you access to speak with the lenders (which I find shocking and counterproductive) then you should be able to get this from your realtor or lender. The seller may also have other liens on there you aren't being told about...who knows.</p>
<p>If the junior was a piggyback loan, there is no MI. There could be MI on Ocwen's loan though. It's usually hidden in the payment and seller not aware of it.</p>
<p>Ask to see the last HUD if you are curious. Something just doesn't make sense here.</p>
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<p> </p> Id almost bet there's a net f…tag:shortsalesuperstars.com,2013-05-24:3468065:Comment:3155232013-05-24T14:08:32.139Zmike romonehttps://shortsalesuperstars.com/profile/anthonypeoni
<p>Id almost bet there's a net fannies looking for. Probably mortgage insurance has something to do with this too. Im up against what this place would appraise for too. Im paying more than its worth already. Because I want the house. This has been long and stressful and a few sleepless nights too lol</p>
<p>Id almost bet there's a net fannies looking for. Probably mortgage insurance has something to do with this too. Im up against what this place would appraise for too. Im paying more than its worth already. Because I want the house. This has been long and stressful and a few sleepless nights too lol</p>