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A word of advice for homeowners trying to short sell their house with Ocwen, do not wait until the last minute to initiate the short sale.  Ocwen is a very unforgiving lender and frequently refuses to extend Trustee Sale dates in order to facilitate a short sale.  Homeowner’s who desire to short sell their house but also desire to stay in their house for as long as they can should use caution and not push their luck with Ocwen.  Ocwen is a servicer and they rigidly follow their underwriting directives.  Ocwen has outsourced much of their customer service and underwriting duties to India so even escalating issues within Ocwen can be much more difficult than at other lenders.  Homeowners having Ocwen as a servicer and  hoping to string out the short sale process as long as possible should be very careful or they might find that, at the last minute, Ocwen will refuse to move a sale date in order to accommodate a short sale leaving the homeowner with a foreclosure.

July 23rd, 2017

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