Home Loans and Support

Does Ocwen offer in house modifications?

Discussion in 'Loan Modification' started by Maryloucb, Nov 29, 2010.

  1. Maryloucb

    Maryloucb LoanSafe Member

    Okay, long story short, after trying to qualify for the HAMP program for over a year and being denied 3 times by Ocwen (twice they had incorrect income information and the third time they did not give a reason for the denial) I asked for an application for an in house modification. I received the application about a month ago and filled it out and faxed in all the appropriate documents. I called 5 days later to make sure it had been received and that it was complete. I was assured that they had received it and did not need any additional documents and that it was under review. When I called today--about 30 days later, I was told that we had been denied for the HAMP program. I told them that I knew that, but I had submitted an application for an in house modification. I was told that they had received "something" from me on November 2nd, but that they do not offer in house modifications.

    What the heck was I applying for then? What should be my next step? I'm so frustrated I could cry!
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Thanks for joining the forum.

    You have been told a lie, I know that Ocwen and almost every lender does offer in-house modifications. The rep you have spoken with does not know what they are talking about and I would request to speak with a manager next time yuo call in. If they cannot assist you, go around them and straight to the executive's office.

    Ocwen Financial Corporation
    Paul A. Koches, Executive Vice President
    & General Counsel
    (202) 416-1602

    If you feel you need assistance negotiating with your lender you can try a nonprofit housing counselor like HOPE or NACA. Please keep in mind that these organizations are not mortgage cure alls or a one stop shop to leave your problems at. You'll have to keep on top of this the whole time if you truly wanna save your home.

    You definitely will want stick around this forum and feel free to join other discussions. Most everyone here is a homeowner just like you and going through the same things.

    Please keep us updated and I wish you the best the luck in your fight!
  3. Maryloucb

    Maryloucb LoanSafe Member

    It's now 6 weeks later and I was just told that they reviewed my account and were unable to offer us an in house modification because our income is sufficient to pay our mortgage and they do not feel that we are at risk of defaulting. They had screwed up the financial information we gave them earlier so that they were taking our monthly income and treating it as a bi-weekly income (they did this twice!) The monthly net income we reported to them--backed up by pay stubs and tax forms--is $2664 and our mortgage payment is $2255. That gives us $399 to cover all our other expenses for a family of 3. How can they possibly say that this is sufficient income? I think they may have screwed up the income information again. How can I rectify this? I think I may call the HOPE hotline--we used them before and they definitely got more of a response than I did on my own.

    Any advice?
  4. Tryan

    Tryan LoanSafe Member

    I agree with Evan. After several documents sent and resent and telephone calls from them and emails back and forth and there may have been some nasty ones from me ocwen told my wife that a underwriter would look over our info. Last week I went to the ocwen web site to see if there was any information on the mod and to my surprise they said "CONGRATULATIONS you have been approved. They lowered our payment from 2038 to 1407 due on Feb 1st. Now we were never late or missed any mtg payments. I don't know if that had something to do with their decesion. Paper work willbe here within 30 days. My wife was pit bull with them and had all mail certified next day air. I can only think that the approval came within ocwen. Hang in there and don't ever give up.
  5. Maryloucb

    Maryloucb LoanSafe Member

    Did you have a specific person you were working with, or did you just have to deal with customer service? It has been over a year since we started this process and I must admit I am worn down by the whole thing. We have never been late or missed a payment either. I am working with the HOPE people right now and am hoping that will help. They told us we may have been denied for the modification because we have too much in savings (which we don't have anymore because we have used it to pay our mortgage all these months.) They screwed up our financial information at least twice and were using double our income for the amount to qualify us. Thanks for the encouragement--I will keep fighting.
  6. Tryan

    Tryan LoanSafe Member

    The woman my wife was in contact with was Rebeca Gonzalez. Her email address is Rebeca.Gonzalez@ocwen.com. Don't forget the period between her first and last names. We got our approval for the trial payments and they only want one for the next three months. On their web site they also showed us how much the payments and escrow will be. We always paid our own taxes and insurance. Turns out this is a HAMP mod. That Ms Gonzalez helped us out very much. Never give up with them.
  7. garfield33

    garfield33 LoanSafe Member

    my lender is Ocwen as well. I have been trying to get a Loan Mod since Mar 2010 when I lost my job. They only know one word and it's "unable" to offer you a loan mod, no matter what I do. I have about 44 days until Auction Date and I'm going to fight them to the end. It's nice to see other people here are going thru the same thing I am, and there is hope for success.
  8. mcdrj68

    mcdrj68 LoanSafe Member

    i myself am having a terrible time as well with this so called company. I was in a hamp modification but on the last trial period Ocwen took the money out a week earlier than when i told them too. and since then it's been down hill. In March i was told that the Hamp was voided. but don't worry you can do an in house modificiaton. Okay i said and filled the paperwork. I would call weekly for updates and would not get anywhere. i received a denial letter for an in house because for some reason my loan stayed in the hamp approval but really i wasn't in the approval. Nobody could get it cleared up. Since then my husband and i split up; in the state where i live a legal separation in the court is not recognized so i do not have anything from the court that we are separated. i was asked to put it all in writing with how much he gives me clude deposit tickets and bank statements showing the deposits and have the letter signed and sealed by a notary. i did all that and then got denied because i need a divorce decree.again i told them that i am not divorced yet so they asked me to reword the letter and resend. again i did, then they wanted something from the courts, again i said i am not divorced and believe me by now i am about to have stroke. they asked me to just have the letter state that my husband gives me x amount a month don't email the documents but fax them because apparently when you email the documents all the docs you send don't get saved. I am not on the verge of loosing my home. I am speaking to people in India who i'm not sure know the laws in each state. Also, it's the twlight zone or something. i get a different story from each person i talk to. I am about to lose my mind. i am looking into suing them because of all the stress that they have been giving me and getting me more behind. I even went as far as to ask them to just please mod the loan only to the point of having the past due amounts added to the back of the loan and let me make the payments again. but still nothing. i am fighting so hard to keep this home since i have my little boy with me. someone somewhere i need help over here.....

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