Comments on: Ocwen’s President Ronald Farris gets caught saying he WANTS to foreclose homes versus help the homeowner http://homesolutioncounselors.com/ocwens-president-ronald-farris-gets-caught-saying-he-wants-to-foreclose-homes-versus-help-the-homeowner Foreclosure Defense, Loan Modification, Mortgage Litigation, Real Estate Short Sales, Houston Texas TX Sun, 05 Feb 2012 05:46:32 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Debbie Battista http://homesolutioncounselors.com/ocwens-president-ronald-farris-gets-caught-saying-he-wants-to-foreclose-homes-versus-help-the-homeowner/comment-page-1#comment-302 Debbie Battista Tue, 22 Jun 2010 15:27:00 +0000 http://homesolutioncounselors.com/?p=1105#comment-302 I sold a short sale that was approved, but the buyers walked out. I found a new set of buyers who were willing to buy the same home at the same price that was approved. They had to close in two weeks!!! We asked for a two week extension and never heard back from Okwen. Then they came back to the sellers and said in order to re-approve your new buyers you will also have to sign a 70k note! (adding new conditions to the approval) when they were asked for a copy of the Note for attny. review we waited,waited,waited. My buyers have jumped in and out of hoops, the sellers are doing their best to comply and Ocwen has everyone on eggs waiting to see if it will close in 8 days....no answers no resolution no recorse.Meanwhile people have sold thier condo (in order to purchase)and that person is also on hold! What more can they ask for?!?!? The question really is do they really want to do fair buisness and close this file? I sold a short sale that was approved, but the buyers walked out. I found a new set of buyers who were willing to buy the same home at the same price that was approved. They had to close in two weeks!!! We asked for a two week extension and never heard back from Okwen. Then they came back to the sellers and said in order to re-approve your new buyers you will also have to sign a 70k note! (adding new conditions to the approval) when they were asked for a copy of the Note for attny. review we waited,waited,waited. My buyers have jumped in and out of hoops, the sellers are doing their best to comply and Ocwen has everyone on eggs waiting to see if it will close in 8 days….no answers no resolution no recorse.Meanwhile people have sold thier condo (in order to purchase)and that person is also on hold! What more can they ask for?!?!? The question really is do they really want to do fair buisness and close this file?

]]> By: Derek http://homesolutioncounselors.com/ocwens-president-ronald-farris-gets-caught-saying-he-wants-to-foreclose-homes-versus-help-the-homeowner/comment-page-1#comment-241 Derek Fri, 28 May 2010 15:22:55 +0000 http://homesolutioncounselors.com/?p=1105#comment-241 Nick, You are are right of course they want full control, Ron Farris contradicts his own words: "People also think that we make money by foreclosing on a home. Foreclosure is not only bad for the homeowner, but it is also bad for the investor in the loan because foreclosure almost always results in a loss" "there is no meaningful difference between a short sale and a foreclosure sale. If you have a buyer for the property, we can always sell them the property post foreclosure sale" In addition, they are not mitigating loss my taking this to foreclosure and most likely the home will not sell at foreclosure resulting in an even greater loss. Nick,

You are are right of course they want full control, Ron Farris contradicts his own words:

“People also think that we make money by foreclosing on a home. Foreclosure is not only bad for the homeowner, but it is also bad for the investor in the loan because foreclosure almost always results in a loss”

“there is no meaningful difference between a short sale and a foreclosure sale. If you have a buyer for the property, we can always sell them the property post foreclosure sale”

In addition, they are not mitigating loss my taking this to foreclosure and most likely the home will not sell at foreclosure resulting in an even greater loss.

]]> By: Nick http://homesolutioncounselors.com/ocwens-president-ronald-farris-gets-caught-saying-he-wants-to-foreclose-homes-versus-help-the-homeowner/comment-page-1#comment-228 Nick Wed, 19 May 2010 17:15:53 +0000 http://homesolutioncounselors.com/?p=1105#comment-228 Of course banks would prefer foreclosure. That means they can set the price and the homeowner cannot. They want full control as soon as possible. Of course banks would prefer foreclosure. That means they can set the price and the homeowner cannot. They want full control as soon as possible.

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