Carrington Mtg Svc & Ocwen
Anyone have any dealings in short sales with the above companies? Thanks.
Anyone have any dealings in short sales with the above companies? Thanks.
I used to live in Belleair, FL! Great place.
So far I have found Carrington really nice as well! We will see what happens.
I was wondering, have you ever had a 1st lien holder tell you that they would negotiate with the 2nd at a later date?
nope. why would a 1st say that?
From what I understand you don’t NEED both. However the first stating the full price of the loan is held by you and never sent to the bank. This is basically a mental thing for the owner showing them that you’re serious about buying their property. The clause at the end of this doc is IMPARATIVE. It should state that the contract for that price is contingent on the discounting of the loan through your negotiations. Meaning the paper with the full price means nothing if they don’t discount and nothing if they do discount because you’ll buy it at that price. Win-Win for you. The second should be signed in your first visit with the home owner (I would get this notarized as well). It should also be blank because you don’t yet know what your offer will be because you haven’t run the numbers. If they have a problem with signing a blank document explain that you have to run their numbers etc. If they still have a problem they are not a motivated seller…..Next.