Loan Mod - Loan Modification Forum

quebal · 10-12-2009, 10:36 AM

I just recently got approved for the trial plan period with Ocwen. My trial plan payments will be 1414/mo. My original mortgage payment is 1623/mo. I understand that the trial period payment are usually what your modified payment will be. If I did my math right that is only a differance of just a little over 200/mo. Now, if it is true that these trial payments will be what my modified payment will be, then that will not help me at all.
My question is, do I need to accept this offer and can I negotiate with Ocwen to get a better one? Also if I do not accept this offer does this disqualify me from ever getting a modification again? I did speak with one of there reps,"in India mind you" and I was told, that is the best offer they can give. Does anyone know if they in fact can give me a better offer. From looking at Ocwens website about my account it looks like they have taken my 30yr mortgage to a 50yr. Any advice will be welcome!!!

Evan Bedard · 10-12-2009, 10:48 AM

Hi quebal welcome and thank you for joining.

Quote:

My question is, do I need to accept this offer and can I negotiate with Ocwen to get a better one? Also if I do not accept this offer does this disqualify me from ever getting a modification again? I did speak with one of there reps,"in India mind you" and I was told, that is the best offer they can give. Does anyone know if they in fact can give me a better offer. From looking at Ocwens website about my account it looks like they have taken my 30yr mortgage to a 50yr. Any advice will be welcome!!!

If you cannot afford the offer do not accept it. It will be more difficult to negotiate for a better rate if you accpet the offer.

It is possible to deny the offer and renegotiate for something better..

quebal · 10-12-2009, 11:11 AM

Thanks, and I will keep fighting

Evan Bedard · 10-12-2009, 11:34 AM

Good luck and please keep us posted!

10-12-2009, 10:36 AM	#1 (permalink)
quebal Member Join Date: Oct 2009 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Loan Mod I just recently got approved for the trial plan period with Ocwen. My trial plan payments will be 1414/mo. My original mortgage payment is 1623/mo. I understand that the trial period payment are usually what your modified payment will be. If I did my math right that is only a differance of just a little over 200/mo. Now, if it is true that these trial payments will be what my modified payment will be, then that will not help me at all. My question is, do I need to accept this offer and can I negotiate with Ocwen to get a better one? Also if I do not accept this offer does this disqualify me from ever getting a modification again? I did speak with one of there reps,"in India mind you" and I was told, that is the best offer they can give. Does anyone know if they in fact can give me a better offer. From looking at Ocwens website about my account it looks like they have taken my 30yr mortgage to a 50yr. Any advice will be welcome!!!

10-12-2009, 11:11 AM	#3 (permalink)
quebal Member Join Date: Oct 2009 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Loan Mod Thanks, and I will keep fighting

10-12-2009, 11:34 AM	#4 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Loan Mod Good luck and please keep us posted! __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

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