Greetings! I need some help here and thought this would be the place to ask. As many of you know Ocwen shut down their short sales dept! and i agree with the first blogger…they are terrible to work with. I had this deal almost approved and then they just called and said they are doing no more short sales! That isnt helping my homeowner. I have been trying to find out something about ocwen and was recently told they are in bankruptcy. I KNOW all of these loans arent going to be just forgiven so what would any of you do next? I have a potential buyer for this house. It is empty and it has already had copper piping stolen from the house. anyway where can I find out about Ocwen. No use in calling them…they are horrible to work with!!! help please!
We’ll have to wait to see what OCWEN does next. Each week it’s something different. Below I’ve pasted a comment regarding OCWEN from a report on all major lenders title The Loss Mitigation Diaries that was recently updated.
Ocwen: Avoid. This company purchases defaulted loans in multi-million dollar bundles just to service them. They service conventional loans exclusively. Communications with Ocwen are challenging: long waits and infrequent call backs. They outsource most of their calls overseas. LMS has received approvals, but only a few. Ocwen recently announced they are ceasing to negotiate short sales. In a rare circumstance will they negotiate a short sale. Easier to just avoid them and move on to another file.