$143,446.40 Principal Reduction Monthly payment reduced by 34%, saving $509.97 per month This successful loan modification is an example of why it’s so important to hire a foreclosure defense attorney to get you the best loan modification result possible.
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PRINCIPAL REDUCTION MODIFICATION . BACKGROUND. The Federal Housing Finance Agency (FHFA) undertook an extensive evaluation to determine whether to implement a Principal Reduction Modification program for seriously delinquent, underwater borrowers whose loans are owned or guaranteed by Fannie Mae or Freddie Mac (the Enterprises).
Paying on time can pay off big time! Through the Home Affordable Modification Program SM (HAMP ), you could earn up to $10,000 in principal reduction just for making your mortgage payments in full and on time-up to $1,000 per year for the first five years and a $5,000 one-time payment at the end of year six.
Since 2008, Ocwen has completed more than 520,000 loan modifications. Many of those modifications included a principal reduction for underwater borrowers. for Fort Lauderdale on November 19 and.
Pending home sales rise for 15th straight month The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 3.6 percent over the previous month and is 6.7 percent above June 2008, NAR reported.This is the fifth consecutive month that the pending sales index rose.
Ocwen is also a leading participant in the Government’s HAMP program, responsible for over 30 percent of new HAMP volume and 42 percent of HAMP modifications involving principal reduction. "Like many metropolitan areas, families around Seattle are still at risk of losing their homes and need help now," commented Jill Showell, Senior Vice.
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If you give millions of seriously underwater homeowners a new equity. Ocwen’s program can only touch a modest fraction at best. Some large lenders and servicers such as Bank of America and Wells.
OCWEN CARES: Helping homeowners and communities is what we do. Ocwen Financial Corporation and its subsidiaries, PHH Mortgage and Liberty Home Equity Solutions, are committed to helping our customers save money, build equity and, most importantly, stay in their homes.
Ocwen Outperforms Under The U.S. Department of the Treasury’s New Streamlined Modification Program.. Granted 48% of all hamp principal reduction Modifications completed industrywide.. "Ocwen is a new company with a management team and Board of Directors that is committed to a culture of.