OCWEN - 2nd mortgage - SUCCESS!!! - Loan Modification Forum

KimberlyD · 10-26-2009, 03:49 PM

Old terms: 10.125%, $562 payment
New terms: 5.5%, $390 payment

I submitted my financials a few weeks ago and honestly wasn't expecting much because I have heard they are very difficult. I called to check the status last week and they went over my financials over the phone. She approved me right then for the above mentioned terms but said it needed to go for final approval. I was told that it could take up to 3 weeks so I was very pleasantly surprised to get the paperwork today!!! I have to say that my experience with them was very easy. Perhaps that is because it was our second mortgage... perhaps because the value has decreased so they would not get anything out of it should something happen.

Anyway, just wanted to share!!

Evan Bedard · 11-16-2009, 03:16 PM

Wow KimberlyD that is amazing how fast Ocwen came back with a decision! Congratulations on the excellent modification!

10-26-2009, 03:49 PM	#1 (permalink)
KimberlyD Senior Member Join Date: Mar 2008 Posts: 49 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	OCWEN - 2nd mortgage - SUCCESS!!! Old terms: 10.125%, $562 payment New terms: 5.5%, $390 payment I submitted my financials a few weeks ago and honestly wasn't expecting much because I have heard they are very difficult. I called to check the status last week and they went over my financials over the phone. She approved me right then for the above mentioned terms but said it needed to go for final approval. I was told that it could take up to 3 weeks so I was very pleasantly surprised to get the paperwork today!!! I have to say that my experience with them was very easy. Perhaps that is because it was our second mortgage... perhaps because the value has decreased so they would not get anything out of it should something happen. Anyway, just wanted to share!!

11-16-2009, 03:16 PM	#2 (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: OCWEN - 2nd mortgage - SUCCESS!!! Wow KimberlyD that is amazing how fast Ocwen came back with a decision! Congratulations on the excellent modification! __________________ 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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