Many short sales are lost, and fall out because banks (such as 1st mortgage) have such strict requirements that it becomes nearly impossible to satisfy these ridiculous requirements.
What really buggs me is that many of these requirements (RMA form) are Loan mod forms and make absolutely no impact on the short sale. Why do the banks require these ridiculous forms to be filled out? Who cares how many previous marriages the seller had? Why do these forms have to be filled out at all???
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Hi Christina, here's some more frustrating news from Ocwen:
Ocwen put a sale date on one of my client's properties, and sold it at foreclosure within a week. We called on July 14th and they said no sale date. It was sold on July 22nd. They said that the reason was that there were problems on the HUD that we sent them, which is erroneous, because our escrow said that the changes were flat out wrong!
Has anyone on here had luck with getting foreclosures stopped or postponed through OCWEN?
Has anyone on here had luck with Wells Fargo postponing a foreclosure after their "10 business day" rule?