Legal Question in Real Estate Law in Indiana

i started a short sale on my house at the end of Aug,2009. my house was listed;got an offer in sept,2009 for 119,000. Owe on my 2 mortg-s combined about 156,000. after the normal long time procedure of flipping papers back and forth i got a final agreement from the 1st mortgage. during the time to obtain a final agreement from the 2nd mortg, the first mort(Saxon)sold my acct to another mort. company-Ocwen. Few days later my second mort co (HomEq)signed a final agreement as well. I was ready to move-on to the closing on my house except the'new'1st mortg Ocwen are now sending me(already 3 packets)of mortgage modification forms to fill-out before they do anything with my attempt to close on my short sale. the buyer is still hanging-on. my realtor suggested to fill-out the forms Ocwen sent and see if this will move the process forward. Ocwen stated twice that they will honor the final agreement i have from Saxon, but yesterday i gor a forclosure letter from Ocwen.what should i do?


Asked on 6/01/10, 4:20 pm

1 Answer from Attorneys

Complete the paperwork and if a foreclosure is filed hire counsel immediately. Keep all of the documentation from the beginning on. If you took notes, make duplicates. If you didn't. try to remember who you talked to and when. You might want to look at your phone bill if it itmeizes all calls even toll free to document the calls that you made.

Read more
Answered on 6/01/10, 7:42 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Indiana