Hi Superstars!

Looking for your guidance.  I've never negotiated with Novad before.  They are the 2nd lien holder, Ocwen is the 1st.  Has anyone dealt with a similar situation?  Will Novad negotiate?  I'm used to getting the 1st lien holder approving $6,000 to the 2nd.... and the 2nd happily accepting that.  I have a funny feeling that won't be the case here :-(

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What type of loan is with Novad? Partial Claim / EHLP? 

Partial claim.  Payoff $121,708.05  The offer is $350k on a $375k listing

Since you have a Novad Partial Claim 2nd - The loan with Ocwen should be an FHA loan. Correct?

The Partial Claim loan is paid 100% (no short sale) and the NET to Ocwen is reduced by this amount. Ocwen should be aware of this - if you have any issues - call Novad - file a case  and get a HUD rep involved. 

I negotiate these types of files often (FHA 1st with Partial Claim 2nds) and Ocwen shouldn't cause an issue. 

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