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The Lenders are Lying in the Short Sale Process

Education & Training with Florida Realtor/Real Estate Problem Solver(Nat'l)/Coach



OCWEN just told us they have shut down their Loss Mitigation Department!

Now we all know a Lender can not shut down a department and still service their customers.  This is just one more lie the Lenders are Telling us.

Two Months back a local Realtor called me to release a listing because, she stated, the bank now owned the property.  I was working on the short sale.  I stated I would release to listing, if she could produce the deed which showed the Lender took the property back.  She called me 6 weeks later.  She had gone behind my back, paid the seller to move out of the property and had the seller sign documents turning the property over to the Lender, without an auction.

Realtor - now is the time to take back the real estate sales industry.  Lender can no longer be in control and buy and sell with us...and we need to not let them use us against each other.

Have the Lender been promising you - if you do the BOP and the property doe not get sold in a short sale (therefore - in the Lender's interest only) that they will in turn, give you the REO listing.  Junk begets junk.

Let's hear your story!  Let's take a stand and protect the little guy.  Let's team up and take back Florida!

Jude Sandvall: DreamHomes by Jude
Brokers Guild Classic - Englewood, CO
Actually, I heard a rumor here in Colorado that Ocwen's Loss Mitigation department is going away.  They might not be lying. (not that they don't on other occassions)
Apr 16, 2008 07:01 AM
Vincent Arcuri, P.A.
Cooperative Real Estate - Tampa, FL

Becky, I love your energy!  You are so right, but the Short Sales are so shady.  It seems like the lenders don't know what to do from one day to the next.  We have closed 15 so far this year (Short Sales) but it has been comic entertainment to say the least!


Oct 07, 2008 12:08 PM
Denise Allen
Resh Realty Group - Chesapeake, VA
Realtor@ Chesapeake, Hampton Roads

It seems to be a big problem and seems to be getting bigger and bigger.

Oct 07, 2008 01:23 PM