Ocwen loan mod help!! - Loan Modification Forum

greetin · 01-20-2009, 04:11 PM

I tried to apply for a loan mod back in December with Ocwen. I sent in all the required info to them and then called 5 days later to check on the status. They told me I was denied a loan mod but wouldn't tell me why. They said they could not disclose that information with me. He said to try again in a few months. It that it? Do I not have any other options with them? When I applied, I had never been more than 29 days late but was struggling more and more to make the payments. We feared. We have exhausted all of our credit to make our house payments and are now almost 60 days late. We are in a 2 year ARM with a 9.3% interest. The rate is to go up next month. Any help or advice on how to work with them would be greatly appreciated.

mom8139 · 01-24-2009, 03:41 PM

Don't give up! I don't understand why your denial wouldn't be discussed with you. I called them and the man I spoke with worked with me. He said I made too much money and we dicovered going over my papers that they were counting a monthly payment to me as weekly. After that was straightened out, he actually had me hold while he calculated what they could offer and quoted it to me on the phone. The papers I received were exactly as he said and I just completed the modification the 21st. Maybe call again and ask to speak with the loss mitigation department. That's who they transferred me to when I called. Good luck to you.

greetin · 02-26-2009, 09:29 AM

So I called Ocwen today after re-submitting my financials and they told me my loan is not available for a loan mod. They said it could become available in the next couple weeks or couple months and that they will send me a notice in the mail with an offer. I am 60 days behind almost 90. I have been putting money away to pay some of it but can't quite pay all of it. I am just wondering if there are any other options? I am at a 9.3% interest rate and my ARM went into affect this month. Any advice would be greatly appreciated as I don't know what to do next.

Mom2threepanicked · 02-26-2009, 09:32 PM

Have you spoken to loss mitigation directly?

01-20-2009, 04:11 PM	#1 (permalink)
greetin Junior Member Join Date: Nov 2008 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Ocwen loan mod help!! I tried to apply for a loan mod back in December with Ocwen. I sent in all the required info to them and then called 5 days later to check on the status. They told me I was denied a loan mod but wouldn't tell me why. They said they could not disclose that information with me. He said to try again in a few months. It that it? Do I not have any other options with them? When I applied, I had never been more than 29 days late but was struggling more and more to make the payments. We feared. We have exhausted all of our credit to make our house payments and are now almost 60 days late. We are in a 2 year ARM with a 9.3% interest. The rate is to go up next month. Any help or advice on how to work with them would be greatly appreciated.

01-24-2009, 03:41 PM	#2 (permalink)
mom8139 Member Join Date: Sep 2008 Posts: 13 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Ocwen loan mod help!! Don't give up! I don't understand why your denial wouldn't be discussed with you. I called them and the man I spoke with worked with me. He said I made too much money and we dicovered going over my papers that they were counting a monthly payment to me as weekly. After that was straightened out, he actually had me hold while he calculated what they could offer and quoted it to me on the phone. The papers I received were exactly as he said and I just completed the modification the 21st. Maybe call again and ask to speak with the loss mitigation department. That's who they transferred me to when I called. Good luck to you.

02-26-2009, 09:29 AM	#3 (permalink)
greetin Junior Member Join Date: Nov 2008 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Ocwen loan mod help!! So I called Ocwen today after re-submitting my financials and they told me my loan is not available for a loan mod. They said it could become available in the next couple weeks or couple months and that they will send me a notice in the mail with an offer. I am 60 days behind almost 90. I have been putting money away to pay some of it but can't quite pay all of it. I am just wondering if there are any other options? I am at a 9.3% interest rate and my ARM went into affect this month. Any advice would be greatly appreciated as I don't know what to do next.

02-26-2009, 09:32 PM	#4 (permalink)
Mom2threepanicked Member Join Date: Oct 2008 Posts: 20 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Ocwen loan mod help!! Have you spoken to loss mitigation directly?

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