Litton/Ocwen Loan Mod -- Starting my journey

[Joel Fraser]

I have to say this site appears to be a godsend! Been lurking for a few days and have now taken the plunge to membership.I am in Los Angeles and have a 1st with Litton, a sub-prime ARM currently at 8.75% and scheduled to reset in October. There is also a 2nd with Ocwen @ 10%. The 80/20 loan scenario.I was counting on being able to refi to a 30-yr fixed but that isn't happening. The house has lost value (no surprise) and won't appraise.I am current on the loan with a couple of missed payments but it's getting tighter and tighter and I can't keep doing it. Things are tight as is and just aren't going to work after the next reset. In addition to the mortgages I also have a child support payment.I completed and submitted a form Litton has a form on its web site for customers who have trouble making the payments. That was a week ago and the only thing I have heard is an automated reminder to pay the mortgage. Next step is the hardship letter.More as it unfolds.Jp