Comments on: Short Sale From Hell – The Saga Continues…

By: Paul Francis, CRS

Paul Francis, CRS — Wed, 22 Oct 2008 00:57:35 +0000

@ Jeffrey,

I should have clarified — another $2,500 is in addition to what was originally proposed (and accepted) that the first gives the second.

By: Jeffrey Buettner

Jeffrey Buettner — Wed, 22 Oct 2008 00:13:20 +0000

Paul, Did you purpose the first give the second money before you got approval from them? **Jeffrey Buettner´s last blog post..Banks Try To Simplify Short Sales

By: Paul Francis, CRS

Paul Francis, CRS — Tue, 21 Oct 2008 23:40:06 +0000

Just got an approval on a short sale with the first (Wells Fargo) today. The second (which is Wells Fargo) will approve on condition that somebody gives them $2,500.

Interesting.

By: Jeffrey Buettner

Jeffrey Buettner — Tue, 21 Oct 2008 23:32:52 +0000

Francis Team,

The banks are trying to improve short sales but they are taking the same amount of time as a year ago.

By: Jeffrey Buettner

Jeffrey Buettner — Tue, 21 Oct 2008 23:31:53 +0000

Francis Team, The banks are trying to improve short sales but they are taking the same amount of time as a year ago. **Jeffrey Buettner´s last blog post..Banks Try To Simplify Short Sales

By: Jeffrey Buettner

Jeffrey Buettner — Tue, 21 Oct 2008 14:41:34 +0000

Ocwen is one of the only banks I have negotiated short sales with that has outsourced half of their loss mitigation department. **Jeffrey Buettner´s last blog post..Banks Try To Simplify Short Sales

By: Francis Team Las Vegas Real Estate

Francis Team Las Vegas Real Estate — Mon, 08 Sep 2008 06:03:37 +0000

Has anybody noticed an improvement with the banks and their short sales?

@Julia — We actually now enjoy helping out homeowners get out of a bad situation and moving on. Our full time short sales person has gotten really good at jumping through the hoops and seems to have the system down. $275,000 under (and closed) is our record so far….

By: Julia Bridge Phoenix Real Estate

Julia Bridge Phoenix Real Estate — Sun, 20 Jul 2008 18:09:23 +0000

Just a positive note for OCwen. I am in the midst of a Bank Owned Purchase with Ocwen. The property was listed at $104,900..on mkt for a year, stigmatized by a suicide. They accepted a low ball of $80,000 PLUS Ameridrea and closing costs! THEN, the A/C is inoperable and needs to be replaced. They have agrred to pay half to have it replaced! (Because of it being an FHA Loan that will not fund if the A/C is inoperable.)
As you said, they must be most concened with Foreclosed props.
Who out there REFUSES to do ss and what do clients think about that?

By: Joseph Bridges

Joseph Bridges — Sat, 19 Jul 2008 17:26:24 +0000

Found this post from one of your most recent posts. Short sales were a challenge last yearand this year they seem to have been even more challenging. OCWEN seems to be more in bank owned mode now, so I guess we won’t have to worry about too many hassles with short sales and OCWEN.

By: Jake Carter

Jake Carter — Wed, 26 Mar 2008 02:02:38 +0000

I am currently dealing with Ocwen on a SS. They service our 2nd, WaMu has the 1st. I called and talked with a manager I have been working with to ask about them not doing short sales anymore. He said that it is true only where they service the 1st and the 2nd is with someone else. In that situation they feel they can impact their bottom line less by dealing with the property as REO and sending the customer to their collections company. When they service both the 1st and 2nd they will look at doing a short sale only if the 1st will be paid in full and the 2nd is not taking a 100% loss. In the situation like mine where they service only the 2nd they really have no choice other than to take it given the current market