I have been fighting with these idiots since my loan was transferred to them by Bank One (now Chase). For about 5 years we have gone round and round about being late/not being late, bogus fees, applying escrow when I pay my own taxes and insurance, you name it. Well, unfortunately my husband's job is tied to the housing market, so he has lost half his income in the last 2 years. So, as of now, we ARE late. Of course so are all the other bills, but they don't want to hear it.
We decided to file Chapter 7 to get rid of the debt. Ya know what? I don't even care anymore. My husband and I bought this house to totally redo it, and there still is a lot of work to be done on it (finances have not allowed us to do all we wanted). We have built a new front porch, put in a sliding glass door in the back (where there were 2 small windows high up) and put in a back deck where there was no porch, exchanged plaster for drywall in 2 bedrooms, kitchen, hallway (walls and ceiling) and put in new countertops and ceramic floor in the kitchen.
Still, there remains enough work to keep someone busy for quite a while. We owe $60,000 and if it's worth half of that, they're lucky.
So, we get to live here until the foreclosure is finished (I found out you don't have to leave until it's all finished and the title actually goes into their name), without paying them a dime. According to our lawyer that could take 6-9 months. Meanwhile, we can save money to rent a house.
Do I feel bad? Kinda-we've lived here for 11 years since my girls were young, but, it's only a house, it could be worse.
I feel kinda happy, getting to stick Ocwen with a house they're not going to be able to sell in a trashed housing market. Let it sit here, it'll do them good.
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