Has anyone dealt with Ocwen mortage out of Orlando, FL? What is the lowest percentage of the payoff that they accept? I offered $105,000 and they almost laughed at me for offering 50% of the payoff.
My situation:
1200 Square Ft, 2 story single family, 4 br, 1.5bth, no garage, unfinished basement
Retail Property Value: $175,000
Existing Principal balance: $173,000
Fees, Back interest: $25,000
Repairs needed: Roof, Kitchen, bathrooms, carpet, paint, add a/c to an oil boiler
Estimated repair costs from my contractors: $35,000
if you are planing to buy yourself using HML, repair and sell w/ realtor your offer is reasonable, you may or may not have room to go any higher. That they laughed means nothing, thats their job, minimize losses, as long as your ARV is correct and you can back it up with comps and/or actives, and you have presented a complete package showing hardship. Check weekly and let them counter. If you dont want them to laugh, add another 50% to your offer
That is SO SO true they try to give us that line I laugh back and remind them we have 42 files with them and say “Tell your Investor then he is about to own 42 more houses” Then they open there eyes.
Send them this
WE HAVE A FULL PRICE OFFER.
Appraised value $179,000.00
Repairs Needed $35,000.00
List price should $144,000.00 after Foreclosure
Attorney Fees $10,800.00
Realtor Fee’s $8,640.00
Holding Costs $27,000.00 (Figured at 3k per month times 9 months avg. turn time REO)
Eviction cost’s $2,200.00
Taxes $1,500.00 (Just a guess for me)
Closing cost’s $1,250.00 (Will have to take title into there name to transfer anyway)
