Ocwen Short Sale
We recently completed a short sale with Ocwen Loan Servicing. Fortunately, the borrowers didn't have to bring any cash or sign any promissory note. The borrowers were forgiven of their debt.
Quick Facts
Hardship: Decrease in income
Days for Approval: 14 days
Amount Forgiven: ~$100,000.
Missed Payment: Yes
Lessons Learned: Ocwen Loan Servicing is very quick with their short sale process. One important thing to remember is that once Ocwen set a foreclosure date, Ocwen will not postpone the foreclosure date even with an active short sale contract. I hope this was an isolated case but we had to push the file along quickly to avoid foreclosure.
Contact us if you have any questions concerning Ocwen short sale or just short sale in general. We have successful completed well over 100 short sales to date.
Simon Hahn - Ocwen Loan Servicing Short Sale Specialist
703-662-1466
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