Jeepfreak81

Ocwen wants to Appraise house before giving a payoff quote

4 posts in this topic

So my Dad has a house that is in the stages of foreclosure, no dates have been set and they've responded with some info regarding reinstating his loan and/or the amount for a short sale.  We are interested in the house as I helped to build it and it's a pretty nice house.  Anyway, there's some other things we're exploring for how to do that but in the meantime he requested a payoff quote, i think he said from thier website.  It then said that he had to order and pay for an appraisal before they would give him a quote.  What's up with that?  That doesn't sound kosher to me, shouldn't the payoff be his principal and any fees and accrued interest since the last statement?

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1 hour ago, Jeepfreak81 said:

It then said that he had to order and pay for an appraisal before they would give him a quote.  What's up with that?  That doesn't sound kosher to me,

Doesn't sound kosher to me too and I am Jewish.

1 hour ago, Jeepfreak81 said:

shouldn't the payoff be his principal and any fees and accrued interest since the last statement?

Yes.

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On 8/26/2017 at 5:11 PM, Clydesmom said:

Doesn't sound kosher to me too and I am Jewish.

Yes.

Ocwen is responsible for taking care of an appraisal on a property that they are selling.   The Sales Price will be the Appraised Value and not what is owed on the low as the lender would not make any money selling it for that.  *Ocwen is in some how water with the law in a handful of states.  you best move would be to call them out on it over the phone and ask for a manager.  they might be more willing to work with you now that they are in big trouble.  Google it! :)

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