Payoff offer from Ocwen b4 foreclosure?

[trixjones]

I have an 80/20 (Indymac/Ocwen) in Georgia. We have been informed that Indymac will be foreclosing our property as of 7/5/11. Ocwen has now sent us a letter with a payoff offer of $7228 and we owe them $46k. They are giving us a deadline of 6/27/11 to take the offer. Why are they making an offer before the foreclosure? I don't have the $7k so I will have to ignore them for now. Any advice would be appreciated.

[TomEason]

I have an 80/20 (Indymac/Ocwen) in Georgia. We have been informed that Indymac will be foreclosing our property as of 7/5/11. Ocwen has now sent us a letter with a payoff offer of $7228 and we owe them $46k. They are giving us a deadline of 6/27/11 to take the offer. Why are they making an offer before the foreclosure? I don't have the $7k so I will have to ignore them for now. Any advice would be appreciated.

trixjones
Thanks for your post. I assume that offer was for your 2nd. If I were you I'd accept the offer in writing without paying them any $$. By so doing, you may succeed in delaying the foreclosure sale by the 1st, and confuse them. But I wouldn't count on it, since the 1st and 2nd won't likely communicate even though it's the same loan servicer. I would call the 1st and request a postponement to their foreclosure anyway - can't hurt. Good luck.