Ocwen (1st)/Litton (2nd) Success... sort of... HELP!

[Joel Fraser]

Hi all! This is my first post and have been a lurker, trying to learn some tricks on how to go about modifying my 1st and 2nd. I have originally sent in my mod forms to Ocwen in Aug, but they denied us due to "lack of financial info," which was sent, but anyway, I resent it a couple days ago and called everyday since to check on it. I was on the phone with "Sara" for about 1.5 hrs today, as she went ahead and processed my paperwork. I didn't know how to go about giving her the financial figures over the phone (I assume she didn't have my original paperwork in front of her with that info), and didn't want to "overinflate." I guess I gave her some good numbers and she went ahead and approved me for 5.5% fixed from 7.65%, which was going to adjust in December. My payments only went down from $1098.75 to $864.30, not including the escrow, which will probably bring it back up to around $950, so not much of a reduction -- although, I am THRILLED with being at a fixed rate! I asked if there was anything else she could do to help me lower the payment (and I had seen that a lot of people were getting their principal balance lowered here) so I asked if she could do that and she said they couldn't?? How are people getting that reduced here? Am I not doing/asking something right? But, I should be getting my mod papers soon! Also, when I called Litton and asked for a loan mod on my 2nd which is already fixed at 10.5% and the numbers I gave I guess were "inflated" too much, so she 'worked' with me to get them to their accepted range. I was referred and now have to send in my paperwork. Does anyone know the "range" that they used so that I submit the correct amounts? She never did tell me the range, but with all the adding and subtracting from my amounts, I kind of lost track. :( Any suggestions are appreciated!! I really would like to knock off a hundred or so dollars! Right now I am paying $338.52 on a $37,000 loan with them.