Ocwen Loan Modification Help

[Joel Fraser]

This site has been a blessing. I have recently missed the 3rd payment on my home due to a variety of circumstances. I planned on having no choice but to walk away from my home. This site has given me some hope. Selling my home isn't an option, realators in my area say I owe 30,000+ more that they couls list it for and that even if they listed it homes in my heighborhood have been up for sale over a year so it's unlikely it would sell. I would like to keep my home if possible. From what I've read my 1st step is the hardship letter along with attachments. I have created a letter based on your sample please read and advise... _____________ To: Ocwen Loan Resolution Dept. RE: Mortgage Modification Program (Loan # xxx) I am writing this letter to explain my unfortunate set of circumstances that have caused me to become delinquent on my mortgage. I have done everything in my power to make ends meet but unfortunately I have fallen short and would like you to consider working with me to modify my loan. My number one goal is to keep my home and I would really appreciate the opportunity to do that. Several factors lead up to and contributed to my delinquency. The primary reason is a separation and pending divorce with my wife. This separation has led to child support and alimony payments as well as loss of available time to work my second job. In addition the rising costs of fuel and a 150+ mile daily commute to and from work has had a toll on my finances. This has caused me to become further and further behind. Now, it’s to the point where I cannot afford to pay what is owed to become current. It is my full intention to pay what I owe. My loan is set to readjust in December. I have looked into the possibility of selling my home and realtors in the area tell me that my home value is over $30,000 less than what I owe and that there have been no home sales in my area in over a year. I really would like to keep my home if it were possible to modify the terms of my loan for more affordable fixed monthly payments and somehow lower the delinquent amount owed. I also have past due property taxes and would benefit from an escrow account if that can be established. I truly hope that you will consider working with me and I am anxious to get this settled so we all can move on. Sincerely and Respectfully, Erik Israelson Loan # xxx Address xxx Phone: xxx