Posted by Michael Morrongiello on November 12, 2000 at 12:40:44:
Sue,
I have dealt with Ocwen in the past. Ocwen Is a large finanacial institution that also is tied in with a bank out of Florida. They purchased large blocks of sub performing and non performing mortgage loans on properties around the country and then try to “scrub” them up to get them performing or try other workout solutions (deed in lieu, note modifications, forebearance agreements, etc.)
YES, they will discount a note if you can pay them CASH for the right to step into their shoes, if they feel that is the best course of action with regard to their investment position in the particular loan account, payor, and property.
To your success,
Michael Morrongiello