Bank Exhibits Disgusting Behavior
Group 4610 welcomes Brian Gubernick back to the show for an extremely terrifying tale regarding OCWEN. If you thought that you have seen it all, just wait for this.
After waiting 60 days to see if OCWEN would straighten out the muddle that they created, it has come to this. OCWEN President Ronald Faris needs to wake up! Our first-rate friend Brian had an accepted short sale and OCWEN gave him 3 days to get the financing together. Brian explains the state of affairs and gets the deal deferred to March 15th. Maybe the transaction could have been finished in that timeframe a few years ago, but nowadays you can not get financing done in that amount of time. So, upon requesting that the foreclosure date be postponed, OCWEN told Brian that they have a “No Foreclosure Postponement” rule.
Brian took the next action and sent an email to the executives at OCWEN explaining the state of affairs, and requesting a deferred foreclosure date. Brian also quoted the President of OCWEN who avowed that foreclosure is bad for the bank and the home owner and virtually always results in a loss.
Mr. Faris responded to the email which declared, in summary, that a short sale will not assist the home owner and additionally says that there is no meainingful difference between a short sale and a foreclosure sale. He went on to propose that the lender could sell the house to the prospective buyer after the foreclosure. Adding injury to insult, he also suggested that the bank could work out a loan modification with the home owner despite the fact that this email was sent on Saturday March 13th, with a foreclosure sale date of Monday March 15th.
This type of bank behavior has got to stop!
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