Helping Homeowners Avoid Foreclosure in Roseville and Sacramento

How Does Homeward Residential Selling their Servicing to Ocwen Affect You and Your Short Sale?

Posted on Nov 21, 2012 in Roseville and Sacramento Short Sale FAQs

Hi this is Mark Peek with Keller Williams Real Estate, your Roseville and Sacramento short sale specialist. If you have a mortgage with American Home Mortgage Servicing, you have already had a servicing change to Homeward Residential which was essentially mostly a change to management. Most of the servicing stayed the same. Most of the people and higher ups remained the same and there are very little differences.

It did change and cause a lot of confusion for homeowners who are in loan modifications and short sales. It’s going to get even more interesting because Homeward Residential is selling their portfolio of residential mortgages to Ocwen. So what does that mean? It means if you are in the middle of a loan modification or short sale, there is a chance you may have to start over with Ocwen. So Ocwen has been on a mission to increase their mortgage servicing. They feel it’s a good move for them and there is a lot of money in mortgage servicing.

Homeward Residential isn’t the only mortgage servicing unit they purchased. They are also in the process of purchasing GMAC ResCap. With these two purchases, they are going to be one of the top four or five mortgage servicers in the United States. We have closed lots of short sales with Ocwen. If you have any specific questions about your situation and what you should do and if you are considering a short sale and you have a mortgage with either Ocwen Homeward Residential or GMAC ResCap or someone else, check out my website. I have a short or stay calculator on there that is free for you to use. Just enter in your information and it will give you a detailed report of whether or not you should short sell or stay in your home. Again, I’m Mark Peek with Keller Williams Realty, your Roseville and Sacramento short sale specialist and I’m here to help. Please contact me today and I look forward to hearing from you soon.

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