Success With Ocwen! I *heart* Loansafe

Medora

LoanSafe Member
Jul 18, 2008
85
3
8
California
I can't believe the long nightmare is finally over. Loan Mod: The Sequel is resolved!
After a grueling round trying to get BofA to modify our 1st back in 2009, we got a great 5 year mod, thanks to advice and access numbers that Moe had provided (thanks a billion again, Moe!!).

That initial mod reset this past February--basically doubling our monthly payment.
Moe or Evan--can't remember which--turned me on to Michael Nazarinia at Loan Mod Help Center, who patiently and affordably educated and counciled me on Round 2 with my new servicer, OCWEN. (sidenote: Michael is THE REAL DEAL, folks. Super smart, generous and current on the details.)

I was looking at best a Hamp 1 with about a $300 monthly increase, and at worst a Hamp 2 with about a $600/month increase. All depending on where my current home value was determined to be.

Have to say, OCWEN has been a dream to work with since my horror-story with BofA. A dedicated account rep is super thorough and it's easy to make an appointment to ask questions. Sure, there was a glitch after submission where my repped viewed my account to discover the paperowork submitted had stalled in the pipeline, despite the notice I'd received in the mail that everything is on track. But I resubmitted via email while he stayed on the phone with me, he reviewed, and said he'd hand-deliver it to the underwriters for me, and we'd talk again in a week.

3 days later I had my loan mod.

It was better than I expected: basically the mortgage wasn't going up AT ALL. In fact, they forgave a small amount of principal, did a forbearance on another part, and gave me 2% for 20 years.

PINCH ME.

1 trial payment made, the 2nd on its way, and I'm told my final paperwork should arrive in a couple of weeks. We have another appointment to review.

Here's the thing: I COULDN'T HAVE DONE IT WITHOUT LOAN SAFE. I mean that--not emotionally, mentally or practically.

I would have walked away a long time ago were it not for the encouragement, advice and support I've received at this forum.

LoanSafe was first to provide this unique grassroots basecamp for mortgage victims, and at least in the beginning there wasn't much in it for you guys, profit wise. I hope by now there's at least a decent living on this site, because YOU DESERVE IT.

I've turned others onto to LoanSafe, and given advice where I could, helping a couple of friends get their own mods. Because we have to help each other. No one else will.

P.S. Icing on the cake: a week after my Hamp 1 trial was granted, got a Letter of Reconveyance from the County Recorder...Wells Fargo extinguished the second lein of $90,000. If I'm dreaming don't wake me up!!!

LOVE YOU LOAN SAFE!!!!!!!!
 
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Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,850
466
1,000
49
Southern California
www.loansafe.org
WOW! I'm so happy for you and at the same time, humbled by your kind comments. Thank you so much! :)

It so nice to read your words of not only success and victory, but also sincere gratitude.

What a testimonial by such a good person. You deserve this Medora.

May many more blessings come your way!
 

pennygram

working for consumers
Sep 29, 2010
583
88
28
Congrats Medora! Your story should encourage others that have had less than desired loan mods in the pass to reapply today... Between you and me we are two successful 2nd loan mod cases where the 2nd mod was exactly what is should be....
 

Wbaker

LoanSafe Member
Jun 18, 2014
10
3
3
61
Delighted to share several months ago I was approved for an Ocwen "shared appreciation principal reduction" program; reduced my principle from $650K to $557K with a 2.01% fixed rate
Today after more than 3 years and 220 pages of documents I have received a 100% extinguishment of my second with the horrible folks at Greentree to the tune of $127K
The happiest I've been in too, too long.
For those still struggling have faith and be persistent
If I can help others feel free to reach out
 

strollingastronomer

LoanSafe Member
Apr 30, 2012
47
1
8
was your 2nd always with Greentree? I am going on about 5 years since default with HSBC that was transferred to GT about a year ago.
 

HMR75

LoanSafe Member
Jul 20, 2015
19
3
3
45
Delighted to share several months ago I was approved for an Ocwen "shared appreciation principal reduction" program; reduced my principle from $650K to $557K with a 2.01% fixed rate
Today after more than 3 years and 220 pages of documents I have received a 100% extinguishment of my second with the horrible folks at Greentree to the tune of $127K
The happiest I've been in too, too long.
For those still struggling have faith and be persistent
If I can help others feel free to reach out
Is my communication with Greentree going to be over years to try & get something to happen with my 2nd? I don't know if I have the patience to deal with them for that long. I just received my 1st modified in a HAMP. Im hoping Greentree will do something with my second. I have been current up til now, I just missed my first payment. Which I guess I've been paying to stay since they discharged my account in a BK.
I've been reading thru all the posts on the horror of dealing with GT. I really don't want to pay them anymore either. Im guessing I should just sit & wait and hope for success.
Any suggestions appreciated, since you have already went thru it?

thanks a bunch!
 

Medora

LoanSafe Member
Jul 18, 2008
85
3
8
California
HMR75, congratulations on your 1st Hamp mod! That's fantastic. If your 2nd is one of the banks that is approved for 2MP, you will hear from them within 6 months about modification. Since your loan was discharged in BK, you're in a better position with them as they will be motivated. Depending on whether the 2nd is underwater or not. Stay the course, and even though it's a struggle, one thing is for certain: If you give up, you won't win. Keep strong!! And let us know how you did.

And as a followup, all my paperwork went through smoothly, my Ocwen rep was amazing all the way through. It just goes to show, that it's possible to get this process right, efficient and fair.

Next up is helping my friend get a HAMP!!
 
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HMR75

LoanSafe Member
Jul 20, 2015
19
3
3
45
HMR75, congratulations on your 1st Hamp mod! That's fantastic. If your 2nd is one of the banks that is approved for 2MP, you will hear from them within 6 months about modification. Since your loan was discharged in BK, you're in a better position with them as they will be motivated. Depending on whether the 2nd is underwater or not. Stay the course, and even though it's a struggle, one thing is for certain: If you give up, you won't win. Keep strong!! And let us know how you did.

And as a followup, all my paperwork went through smoothly, my Ocwen rep was amazing all the way through. It just goes to show, that it's possible to get this process right, efficient and fair.

Next up is helping my friend get a HAMP!!

Thanks for the encouragement. I will hang tight and keep my head high waiting for something from Greentree, which participates in the 2MP program, even though no one there claims they do... My 1st is with Ocwen, They have been so easy to deal with.
I'll post something once I get the results on the 2nd. it's just nail biting for me since I've been current (even though they don't report to my credit)& said I'm done with paying them. I will just put that money on the side for now - in case it's needed.
Good luck helping your friend, that's so nice of you.