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Payoff offer from Ocwen b4 foreclosure?

Discussion in 'Stop Foreclosure and Tell Us Your Story' started by trixjones, Jun 18, 2011.

  1. trixjones

    trixjones LoanSafe Member

    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.
  2. TomEason

    TomEason LoanSafe Guide Staff Member

    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.

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