Loans, Debt & Credit - View Single Post

gracie01 · 05-30-2008, 05:47 AM

Hi,
I am going through an Ocwen loan mod too. They are extremely frustrating to deal with. I was not behind or late, but knew that I couldn't afford for the mortgage to adjust on 9/1. I started the ball rolling early and figured that hopefully it wouldn't be that bad to do. It seemed to go through pretty quickly, but now everything is a mess. I made my 2 'stipulation pyts' and figured that as of 6/1 my loan would be revised. Not happening. They reported me as late to the credit bureaus (apparently they don't count the 'stipulation pyts' as regular pyts). They also added a comment that I was 'paying under a partial pyt agreement'. They had originally told me that my account would not be reported because my payment history was excellent. My credit is now destroyed. My 6/1 pyt (which I just made online today) now has an extra $254 added on (the statement I rec'd in the mail had my old pyt amt, but online had the extra $254. They apparently are escrowing my account when I was only supposed to make the extra amt on the pyt for the stipulation period. The pyt amt and rate have not changed according to the loan mod and I still have not received my paperwork back, completely signed. Every time I call, I get transferred to a different foreign speaking individual and then get disconnected. I have emailed the Ombudsman and have not received a response as of yet. I made the pyt with the extra amount because I don't want them to report me as late again. Even though I have never been late on a pyt.

I guess it's just a wait and see at this point. I am going to keep harrassing them and hopefully this will get resolved soon! I am just so sick of having to deal with this.

05-30-2008, 05:47 AM	#10 (permalink)
gracie01 Member Join Date: Mar 2008 Location: central MA Posts: 16 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Ocwen Modification Story Hi, I am going through an Ocwen loan mod too. They are extremely frustrating to deal with. I was not behind or late, but knew that I couldn't afford for the mortgage to adjust on 9/1. I started the ball rolling early and figured that hopefully it wouldn't be that bad to do. It seemed to go through pretty quickly, but now everything is a mess. I made my 2 'stipulation pyts' and figured that as of 6/1 my loan would be revised. Not happening. They reported me as late to the credit bureaus (apparently they don't count the 'stipulation pyts' as regular pyts). They also added a comment that I was 'paying under a partial pyt agreement'. They had originally told me that my account would not be reported because my payment history was excellent. My credit is now destroyed. My 6/1 pyt (which I just made online today) now has an extra $254 added on (the statement I rec'd in the mail had my old pyt amt, but online had the extra $254. They apparently are escrowing my account when I was only supposed to make the extra amt on the pyt for the stipulation period. The pyt amt and rate have not changed according to the loan mod and I still have not received my paperwork back, completely signed. Every time I call, I get transferred to a different foreign speaking individual and then get disconnected. I have emailed the Ombudsman and have not received a response as of yet. I made the pyt with the extra amount because I don't want them to report me as late again. Even though I have never been late on a pyt. I guess it's just a wait and see at this point. I am going to keep harrassing them and hopefully this will get resolved soon! I am just so sick of having to deal with this.