Need Help!

[Joel Fraser]

I live in SW Florida. About one year ago, a contractor that I work for filed bankruptcy owing me 119k. The bank involved with the construction loans folded and was bought out. I've had 16 lawsuits pending since Jan 07 2007. The new bank is foreclosing on the construction loan clients and continues to tie up my cases with motions, petitions, affidavits, etc. I do not have the money to fight them any longer, so they are slowly winning the battle. Soon they will walk away with my money...end of story!. In the mist of all that, my life saving is now gone. The Florida construction industry is at a historical low and many citizens of Florida are now in a state of emergency. To make a long story short, my families home has now entered foreclosure. We just received the paper work last week. We do not have money for an attorney, so I answered the complaint myself with a defense that the Plaintiff admitted to losing the note and failed to provide proff of ownership and did not properly inform us of our default, or the acqusition. Aames Financial is who we signed with, Ocwen Loan Servicing is who I make the payments to, but some trust is listed as the Plaintiff. I have no knowledge of the plaintiff or if they really do own the note?? I've tried for the past three month to get Ocwen to modify the loan. The kept asking me to enter a forebearance program and make the payment plus 200.00 toward the arears. That was impossible to do, so I stopped making the payments and faxed letters to the Loss migration dept everyday. Last week I received a phone call stating that they had a modification agreement for me. It would hault the foreclosure and put all the arrears to the end of the loan after a three month trial payment period. After the three months of on time payments, the loan would be current. Oh course all the interest, fees, foreclosure fees, etc are tacked on to the modification, a total of about 15k. The interest rate was dropped about a 1/4 percent and makes little difference in the payment amount. Most likely it will be the same because of the increased amount of the loan. It would be good to have the loan clean and a brand new start, but my concerns are the wording in the new modification. They indicated that other fees that are not apparent now can be tacked on at a later date. They want me to wave all future legal rights for the original note and modification and they're giving me 7 days to execute the agreement. I don't know what to do. I'm not a rocket scientist when it comes to loans. I think their trying to #&#%$ me. What's the scoop? I've read many articles stating that Ocwen is a preditory? Thanks!