Ocwen Loan Servicing Ocwen loan modification, charging fees for certified mail Orlando , Florida

Hi,

I have read through you problem , having worked with ocwen for two years let me help u understand the situation.first of all if incase you monthly payments are 400$ a month(lets assume that) in such a case you have 15days from the day your payment becomes due to make the full payment to avoid late charges i.e if ur date is the 1st of each month you can make payments till the 15th of the month.if not u are assesed a late charge,this is generally about 5% of you monthly mortgage payment i.e ur late charge is about 20$.even if u make a payment of 200$ which is 1/2 ur mortgage then too this will not be applied to you mortage payment till it is a full 400$.the 200$ which u paid is kept aside in a SUSPENSE ACCOUNT!.afetr the 15th the company sends u a letter stating that ur late on your payment for which it charges u 4$(CERTIFIED MAIL CHARGES).What the rep told u abt these letters continuing is correct!.

As for ur loan modification you have to show that u have disposable income to make the payments.i.e if at a lowered interst rate say your new payments is 200$ then ur financials should reflect this which means that, your total income-(Minus)Total expenses should be (Less) that 400$ which is ur current payment but more that 200$ which can be ur possible loan mod payment!.They will ask you for ur financial statements to validate what u mention on the loan mod application form,also ur expenses like car payments,insurances,taxes etc! the trick is to maintain lower expenses and higher income! as i mentioned above less that 400$ but more than 200$!!!

U had to send letter explaining ur hardship because they have to evaluate if incase u really are in need of modification! as i said evaluate ur income and expenses! if need be u can send me ur income and expoenses sheet that u sent to ocwen so that i can help u!

Thanks!