With a money in hand and foreclosure looming, we requested a total payoff quote from Ocwen Federal Bank. This quote with deadlines was faxed to the new buyer of my property (who is also a good friend wanting to help out). This buyer would then sell the property back to me under a contract of sale. Sounds like a good solution doesn't it? Ocwen could recieve full payment plus fees, and we keep our home. The due date given, by Ocwen, for final payment was given by fax to the new buyer, in good faith, as correct information.
This info came from Carl Crutchfield at Moss, Codilis, Stawiarski, Morris, Schneider & Prior, L.I.P. This was the loan resolution department. On August 12th a fax was requested and was recieved a week later on Aug. 19th. The payoff due date on the fax was Sept 10th of 2002.
In spite of this, on August 27th, the house went to the courthouse steps in spite of the latest correspondence including payoff dates. Since it had gone to the courthouse steps the title company would not insure clear title and the sale was botched. Ocwen "realized" its error and said that they would not record the sale until Sept, 10th but at that point the title company wouldnt touch it.
How convenient! Even since the sale was recorded my buyer still wants to buy the property from Ocwen but we cant get any cooperation or real people to talk with. As I write this on Sept 26th, we are still trying to resolve this problem, with full payment in hand and noone to talk to. Next stop? Lawsuit!
Richard
Chester, California
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