Seeking guidance with Loan Mod/Reduc/Ocwen-Homeward-AHMSI-Option One CHAIN Massachusetts

believer

LoanSafe Member
Nov 30, 2012
2
0
0
Well, I just called the 800# for Homeward Residential to speak with my Loan Mod Rep, Sal. He hasn't returned calls or emails in weeks. I had begun my Loan Mod process in December, and completed the package. Sal said it was in review. I have not heard from him. I finally reached Michelle, who promised she would email Sal to call me. She explained that all is up in the air there, during this transfer to OCWEN. She also said I may have to update my package, UGH, it took me weeks to get it completed with them.

Meanwhile, I recieved a statement form OCWEN with a payment due and my back balance, and I certainly cannot do that!! Just started working again, and husbands business is better. So, we need this LOAN MOD and A reduction in balance. Home is valued at $235k. Balance is $315k.

We also have that ATTY GENERAL CLAIM going on with OPTION ONE, as we got our mortgage in 2009 with them. And this is interesting!
When I call 800-340-72489(Homeward #), the recording says it is the MASSACHUSETTS ATTY GENERAL office????

I am just not sure where to spend my time from here. Any help is appreciated.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Meanwhile, I recieved a statement form OCWEN with a payment due and my back balance, and I certainly cannot do that!! Just started working again, and husbands business is better. So, we need this LOAN MOD and A reduction in balance. Home is valued at $235k. Balance is $315k.

We also have that ATTY GENERAL CLAIM going on with OPTION ONE, as we got our mortgage in 2009 with them. And this is interesting!
When I call 800-340-72489(Homeward #), the recording says it is the MASSACHUSETTS ATTY GENERAL office????
Hello Believer,

Ocwen will be the only one who can modify your mortgage and you must follow up with them at least 1-2 times per week while undergoing the process. Whether or not you are working on a loan modification or another foreclosure prevention option, your servicer will ALWAYS continue to send such notices when your account is delinquent. Unfortunately, these transfers can sometimes take 3-00-60 days to be fully implemented in the new servicer's system and there is not much you/they can do until this transfer is complete. One good fact here is that Ocwen can be one of the better lenders to work with when it comes to loan mods and have offered the best terms we have ever seen..
 

believer

LoanSafe Member
Nov 30, 2012
2
0
0
Thank you so much! I will call believe me, and that is good news to hear re: Ocwen being a good lender to work with, thank you! Shall I not bother reaching out to Homeward to assure my Loan Mod package is transfered? Do you believe I will have to begin over as it was complete?

Also, what news do you have re: Ma Claim with Atty General and Option ONe? I did mention that in my Loan Mod Package and hope that does help with a Principal Reduciton, which is what we are praying for.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Thank you so much! I will call believe me, and that is good news to hear re: Ocwen being a good lender to work with, thank you! Shall I not bother reaching out to Homeward to assure my Loan Mod package is transfered? Do you believe I will have to begin over as it was complete?

Also, what news do you have re: Ma Claim with Atty General and Option ONe? I did mention that in my Loan Mod Package and hope that does help with a Principal Reduciton, which is what we are praying for.
Well Ocwen actually has their own in-house programs (such as SAM) and they are one of the only lenders we have seen offer true principle reductions.. There is a chance you will have to resubmit your application over to Ocwen once your loan is updated, but they may just request your most recent paystubs and bank statements. Ocwen should pick up where Homeward left off and if you have any issues with the package or getting your account assigned to a rep do not hesitate to contact this department:

Ocwen Consumer Ombudsman: