My Ocwen loan modification may have actually gone through

OCWEN
OCWEN

Am I still skeptical of Ocwen? You betcha!!

That won’t ever change as long as they have their grips on my mortgage

Before we go any farther, let me say this about that. They, Ocwen, didn’t actually do a whole lot of anything other than follow the federal HAMP guidelines on the modification. So giving then the credit for this is not going to happen. They , Ocwen, continue to be one of the most annoying mortgage providers in the U.S. The stats speak for themselves.  And in my case I unfortunately was involuntarily passed from one questionable provider, IndyMac / One West, to another, Ocwen. Not a whole lot of options at this time so I will go with it.

I did get the final confirmation of the loan modification and I must say it is helpful but definitely not anything earthshaking. Pretty much a simple rewrite with an escalating lower interest rate. While not a financial wizard that is what I see. Gee! A current market rate! How novel! Not much else. Keep in mind that this was not their doing. It was orchestrated through the federal HAMP program. I doubt if they would do anything like this on their own despite what they claim. So, going forward there is a simple 13% or so reduction in the payment. Definitely helpful. I’ll take it.

One noteworthy fact that was glaringly obvious was, to the best of my knowledge, that at no time in this long drawn out [1 year ] reevaluation did they actually reevaluate / reappraise the house. They simply rewrote the mortgage based on the original loan value. It still doesn’t address the loss of value to my home over the last 5 years. Will I take the updated mortgage plan? Sure. Am I disappointed? DEFINITELY. And I don’t know if there is a viable solution to this issue.

During this whole drawn out mortgage modification scenario they have continued to hit my credit report for “missing payments” even during the 3 month trial period when I was actually making the required trial mortgage payments. Seems like double jeopardy to me. I have a mandated payment plan. I make all the payments on time, But it doesn’t count for a damn thing according to my credit report!  It is my understanding that it is because the mortgage was technically still in the foreclosure status.  That’s the best I can figure. Hopefully that will be stopped with the new plan going into effect.

So, with this seemingly resolved I can move on to other things that need to be taken care of. And maybe my stomach won’t hurt as much and I may sleep a wee bit better. Although the info reported in a couple of the links below may make it hurt again!

Finally got my loan modification paperwork

Paperwork
Paperwork (Photo credit: Wikipedia)

I have unofficially been modified!

Well… kinda …. sorta … maybe

I finally got my paperwork back from One West / Indy Mac for a loan modification late this week. Based on a paperwork sequence that started back in October of last year. It was an approved loan modification. Am I happy? Yes. Do I feel better? Yes. Will it help? Yes.

I don’t have all the details yet but I will be filling in the blanks after I speak with them on Monday. I will be sending back the confirmation paperwork on Monday also. I did some reading of the enclosed paperwork and I am good with the fact that it did get modified just not terribly enchanted with the time it took to get to this point. And I am not yet sure exactly what part HAMP had to do with it. If any.

According to my paperwork I need to make three “trial” payments successfully for the loan modification to go through and be finalized. Whatever that means. Need some clarification on that too. As to the details of how I can make sure that they don’t muck up the payments, which will be in well ahead of time, and I am trying to figure out a document able strategy on how timely they are at posting them. In order to make sure there are no causes for them to say I missed a deadline . Or whatever other excuse they will concoct to make sure it fails. Do I sound suspicious of Indy Mac’s activities? Yep! I have a long history with them and most of it is of , might I say, questionable practices. And I have been intentionally misled a couple of times along the way so I am trying to make sure I do everything I can to meet these deadlines on time. In a legally document able way.

For now, at least, I guess we can unpack a few of the boxes and get beck to some semblance of normal. Is there such a thing anymore?

Stay tuned. Film at 11!

IndyMac – New Name – Same Asshats Part II

Just when you thought it was safe!

Theses IndyMacers are some tricky buggers

Now in the previous episode I filled out the same paperwork that  THEY [IndyMac] sent me 5 times, including one “supposedly NEW” emailed version. They were reviewed by my legal advisors and deemed complete and intact. Now the last version was sent by their supposed “loan modification team leader”.  Along with my FULLY completed HAMP forms I FedExed them to IndyMac. I know they got it because I already had the boomerang signature from FedEx.  Apparently they received them because today April 23,2013 at 10:37 I received a call from IndyMac Customer Service Rep Virginia ID#49F who informed me that I had submitted the WRONG FORMS! WTF?! And she stated that “they no longer use that form for loan modification”. Now I know I am not lucid all the time but it appears to me that if I get a form from IndyMac from a “Loan Modification team leader” that it should kinda, maybe, sorta be the RIGHT form. Apparently NOT! Since I had her on the phone I insisted that she email me “the CORRECT FORM” to me so I could see what this NEW FORM looked like.. She did and when I opened it amazingly despite the obvious heading of Borrower Response Package it was not the form that I got previously! Frickin Incredible! Another NEW FORM!

I have been kind of nice up to this point but I have pretty much had it with these asshats! These are some slippery, slimy SOB’s!

 

HAMP is another bad Four Letter Word

Home Affordable Modification Program or HAMP for short is another government sanctioned scam directed at the distressed US homeowner!

See a pattern her folks! If you are in trouble don’t look to the government for assistance. They are feeding the mortgage bankers, including the one’s who already took homes fraudulently,  with more money! How sick is that?!

Before we get farter along check out the video from ABC News on this program.

And if that isn’t enough well .. here is a more graphical version.