Real estate blog entries tagged with lcs short sales by Wendy Rulnick, "It's Wendy... It's Sold!" (Rulnick Realty, Inc.)

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lcs short sales: Ocwen-LCS Won't Budge - 09/03/08 12:43 PM

Short Sale -Condo in Destin, Florida
Hardship - Seller in the Mortgage Business - Loss of Income
ASC, first - owed $420,000
Ocwen, second - owed $280,000
Market Value - $280,000
Offer - $277,000 (fair market value)
Ocwen -has sent the loan to LCS for colllection/buy-out
LCS - Wants $43,000 from seller at closing plus promissory note for $150,000, otherwise, will not approve Short Sale and will "pursue all other legal options".
Seller has no savings.
Wendy Rulnick gets ASC and buyer to agree to pay OCWEN/LCS $12,000.
Denied.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
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