Following is a conversation I just had with an Ocwen employee regarding a shortsale I am negotiating:
Me: I received your letter rejecting the offer because of the closing costs. I’ve called about this before so I need clarification.
Employee: Okay….
Me: What exactly does the 8% closing cost maximum include?
Employee: Let me place you on hold while I check…. (10 minutes later) It includes everything except payment of the principal.
Me: So to be clear, the 6% commission is separate from the 8% for closing costs, correct?
Employee: Um, I don’t know.
Me: Can you check with someone who does know?
Employee: Well… (then silence)
Me: I need to know this before I ask the title company to make the changes. I don’t want it to be rejected again for the figures being incorrect.
Employee: Umm…
Then, he transfers me to the “home retention department”, without telling me first, and without bothering to get an answer to my question. Can you tell how easy this shortsale is going to be?