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Specific lender short sale policies

Posted by Eddie Kearns on February 3, 2012 at 3:34am in Short Sale Discussions

I'm wondering if anyone out there has the specific "hold" policies for each individual lender. For example, I understand that Ocwen has a 90 DAY HOLD policy for all investor approved short sales. I can deal with 30, but if the lender wants a 90 day hold, I'd prefer to know that up front, so as not to waste my time negotiating the short sale from the start.

Who are the preferred lenders, and who are the lenders to stay away from?

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Replies

  • Joseph Alfe February 3, 2012 at 12:29pm

    are you referring to a deed restriction?  The only investor who has a 90 day hold that I'm aware of is Freddie Mac.

    • Eddie Kearns > Joseph Alfe February 3, 2012 at 5:03pm

      If you have dealings with Ocwen, and they didn't require a 90 day hold, that's all I need to know.

  • Smitty February 3, 2012 at 7:54am

    I've never seen anything from Ocwen requiring a HOLD period?  Can you elaborate?

  • Kimberley Kelly February 3, 2012 at 3:56am

    I know nothing about this???

  • Diane Donnelly February 3, 2012 at 3:45am

    Hi Eddie,

    Investor approved short sales, meaning the buyer is the investor or the seller owned an investment property he is selling? And, the lender wants to hold it for what purpose?

This reply was deleted.
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