Ocwen Loan Servicing Review

216 Comments

1. Barbara Jo Ghiselin says:

   October 23, 2010 at 12:50 am

   Marilyn
   Sometimes you can find a lawyer who is retired who will work pro-bono
   OR someone who will wait to get paid after your case is settled.Call legal Aide in your area
   How far are you from your county court house? Make some calls and maybe someone there would have some ideas.
   What town do you live in?
   Do you have some place to go?
   That female lawyer you talked is crazy as far as I’m concerned- I never heard of not being able to file because of low income! Unless she meant you have to come up with some money to hire a lawyer to file Ch 11 or ? After my divorce in ’93 I filed Ch 11 but I went to a para-legal and saved alot of money but I could not get ANY credit for TEN yrs!! Keep in mind lawyers make alot of mistakes- think of the O.J Simpson murder case- and I know from personal experience that attorneys are wrong sometimes
   You might have to represent yourself in court. If you are as angry as you say (and rightly so) it is possible you could do just as good or better than some sub-standard attorney. Of course you would have to do research on the internet FIRST— PLUS your county court house MIGHT have people who will help you file papers.
   And REMEMBER many people around the country are getting their homes back after being stolen illegally
   DON’T GIVE UP !!!

   Reply
2. Marilyn says:

   October 21, 2010 at 12:54 pm

   Well here’s my update - Ocwen sent me to default on the 10th, and I now have two weeks to come up with over $5000. They do not want to give me a modification because they would have to accept way too much less for the next 5 years. And, since they can “buy” my house themselves (it’s in the contract), they can rent my property for more than what I am paying right now. It’s a win-win-win for them - the predatory lender knew this when he ‘con’tacted me. If I don’t get the $5000, which is highly unlikely as I have NO one to help me, my house goes to the next stage and I will need the entire loan balance (100k) to save my house.

   I can’t go bankrupt to save it, either. Because I don’t make enough money! And, I asked for their short sale package just to check it out. What a JOKE!! They do not let you have even the cost of moving from the sale AND they require that you pay the balance of the loan back to them! Unbelievable!!

   I did finally get a hold of an english speaking person, but she was just data intake and after having me go through the HAMP process over the phone - which took almost an hour. (and yet, they take 60 days to give an answer), she said I would have a payment just over $800 - which includes taxes and insurance and would save me some money. But, because I am in foreclosure - I don’t qualify…

   She was unable to answer a single question that I had, either. I can’t believe there isn’t some help for us ocwen abused out there. Or, that our government that is paying for underwater mortgages won’t help the rest of us - I’m going to lose my home of 21 years because I don’t have $5000…that’s just plain wrong.

   This is “funny” - one of my “friends” called me and asked how I was doing and expressed sympathy on my plight. I thought “how nice” - until she said she would love to sell my house for me (she works in real estate)! I can’t say what I thought about that. Let’s just say she’s not my friend anymore. I called a lawyer to see what my options are, she said I couldn’t go bankrupt because my income is too low and that I didn’t really deserve to be a homeowner. Deleted adjectives.

   I wrote a book - asked all my friends and family to buy a copy and only one did. The cost? $7. Not even my mother helped. If my anger became energy - this planet would explode…

   Reply
   • Mortgage Helper says:

     November 10, 2010 at 9:46 pm

     Marilyn…

     To Advise You..

     HAMP i.e. Home Affordability and Modification Program also Called the Obama Plan or MHA ( Making Home Affordable ) has certain criteria’s to be met inclusive of approximately 30 odd conditions to be met by the Home Owner including Owner Occupied property, Loan to Value Ratio , Unpaid Principal Balance and Many Other in-depth Conditions that a Department Called Home Retention Department looks into. A Home Retention Consultant has to qualify the Home Owner on Successful Meeting of the Criteria that I mentioned Earlier.. You can refer makinghomeaffordable.gov for detailed information…

     Now Comes the Part wherein what can a Home Owner do If Cant Qualify for Government Modification i.e. HAMP.. that will be Ocwen InHouse Modification ideal for 2nd Liens and Non- Owner Occupied properties but Not Necessarily…There are fewer Conditions to be Met and Easier to Modify under this Modification…

     Ideally a Mortgage Payment has to be Made before the account goes 79 Days Due or Else the Only option a Home Owner remains with is to Make the Total Reinstatement Amount that will be Monthly Mortgage Payment of three Months + the Late Charges on the a/c(ideally 5% of Principal and Interest Payment).. If the Home Owner Fails to do So ForeClosure proceedings begin…

     So ideally making a Payment of atleast One Monthly Mortgage Payment would have helped you come out of the bracket of 79 days of delinquency..and Bought you some more time and You could have repeated the act of making atleast One Monthly Mortgage Payment and could have avoided the 79 Days bracket and extended the ForeClosure proceedings for atleast Next 6 Months…By Just Making 2 of Your Monthly Mortage Payments in 6 Months.. In the Meantime could have worked on Your Finances.. But Currently You Can Check with the HRD for the Mortgage Keeper Program that is On the Offer and also Check with HUD i.e. Home Urban Development for Options..

     I dont know Your State of Residence.. to Help You Precisely because State Laws differ for legal activities and also some states DO NOT allow Foreclosure on the Properties…

     Incase if still doesnt work out You can Check for a Short Sale or Deed in lieu before it becomes worse to Foreclosure…

     Hope it Helps.. There are Many Options… If You Research.. You wont lose Your Home For 21 Years…!

     Reply
     • Marilyn says:

       November 11, 2010 at 11:07 pm

       That was my plan (paying one or two months late) - however, when I called the customer service people said I needed to send in both payments or they would return the check. Plus, there is some debate about how many months I am behind, so I need to get all my statements together.

       I have decided to file chapter 13, my income has increased enough that I can meet my basic expenses.

       Ocwen is still looking at adding the late payments onto the end of the mortgage and increasing my payments to cover the cost. Not sure which is better, bankruptcy with same payments plus extra for 3 years or extra until I can refinance, but at least I will keep my home.

       They did not do an inhouse modification and no one knows why. And, the person I spoke with told me that they didn’t want to modify because my property was worth more foreclosed.

       I will be able to keep my house, it just will be a lot of stress. The bankruptcy forms are difficult to understand and the free lawyer said he wouldn’t help because he thinks I should just walk. Go figure…

       Also, HUD was worthless, they had nothing to offer.

       Anyway thank you for your advice - too bad I didn’t find this site months ago!

       Reply