Ocwen
3 months of the run-around on Obama's Making Home Affordable Loan modification!

Three months and counting trying to get a loan mod under Obama's Housing Plan with OCWEN, the servicer of my 8.84% mortgage of 2 plus years. I was told it was approved and under "final review" (3-5 days) on May 22nd. Now my "personal loan specialist" does not return my calls and I get circular non-information from everyone else I speak to, all of whom seem to be in India! Read on for the story and let me know if this is familiar to you!

Determined I was eligible and faxed hardship letter, tax papers, pay stubs, copy of property taxes and home insurance - all required paperwork, on March 9. Received a call from Ocwen March 20th — 9 business days later that they received it. I called March 27 and was told there had been changes to the guidelines and further information was needed. Turned out to be a more formal form of what I had already sent - IRS Form 4506-T and hardship affidavitt. Faxed this info March 27. Received call April 1 that they received it.

I called them April 13 - 11 business days later — Once again, additional information was needed and once again they had not informed me. Faxed this information. When I called April 27, was told it had been submitted to underwriting which would take UP TO 20 days. The 10 days originally stated was just for reviewing information.

Called May 7, May 14 and May 19. SECOND person I spoke to May 19 said something about determining value of the property, sending a utility bill was unnecessary, we were "about to be approved", "pending", and "Qualified", they were currently "doing the legal part".

Called May 22, spoke to our "loan specialist" whose name I cannot pronounce and he said we were in the "final approval" process which would take 3 -5 business days.

Called June 5th - was told they had "all the financial details" and it was "under review". Now I had to send a copy of the utility bill for address verification. This would take 2 -3 business days.

Called June 8th - still "under review". Spoke to two different people. Same vague terms about the status of my modification.

Their representatives are well trained to tell you nothing. Different ones have told me different and inaccurate things regarding the guidelines of loan modification under the Make Housing Affordable plan. I seem to know more about it from my own reading of the guidelines.

Though previously current, due to a death in the family and our inability to do the "side" work which enables us to make our mortgage payment, we did not make the May payment and they will report it to the credit bureaus on June 15th. Meanwhile, they were calling me daily because I always use the grace period to pay and even now continue to press me for payment of late fees when I speak to them.

IF YOU ARE AN ATTORNEY READING THIS AND WOULD LIKE TO HELP, I would like to know if I need to continue my payments during this process and if a mortage late on our credit report can be removed when the modification is approved. Also, is the modification retroactive to March 4th? I am willing to take action against OCWEN. Any advice or experiences with OCWEN welcome. I am looking for help and willing to hire.
Thanks!

Company: Ocwen
Country: USA
State: Florida
City: Orlando
Address: PO Box 785063
Phone: 8775968580

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