Loan servicing practice

3 Replies

Hello my name is John and I have recently been sold to another loan servicing and I was given a HAMP modification through the loan servicing that sold my mortgage to the one I have now and I wasn't told at the time of the HAMP modification and its caused me to be in violation with HUD and I have a partial ppayment to HUD and wasn't aware of what my loan modification would distroy my life because if they had told me it would be in violation of HUD I wouldn't have ever taken it now I am still here in my home and I am disabled and cannot keep the upkeep on the property and really need to move but I feel that my mortgage server did not protect me under there policy, is there a way to get HUD to forgive this parcial payback because I was wronged by the loan servicing and also they never applied any of the HAMP incentive acurence in the four years I was with them, please please help me... John

Can you please clarify your violation with HUD? Having a loan modification and a partial claim is a hud provided work out so that alone would not be a problem. Also you would have had to submit and sign a significant amount of documentation to get the loan modification and partial claim so there is absolutely no way that it happened without your knowledge. HUD never forgives partial claims. If you need to get out of the house and owe more than the house would sell for you can pursue a short sale.

I was modify one day and the next day I had my new Morgage payment amount,my problem is that at the time of this day of modification I wasn't aware that this was in vialation with HUD because I would not have taken such a modification why? Would I do that when I was only saving$17 dollars a month it doesn't make sense to me that I wasn't protected by Ocwen Morgage service all they had to say was it would be a violation to HUD and that wasn't told me until I was about to close on my house to sell it

 You had the option not to take the loan modification. If you were confused you probably should have seeked legal advice at that time instead of signing up for it. It’s not Ocwens job to protect you.   However none of that helps you today.  Instead of focusing on trying to blame someone for the loan modification, you should look at your options to get out of the situation. Sounds like a sale or a short sale would be your best option.   If it makes you feel any better most people are confused by their loan modifications and regret them or simply fail to make the payment anyway and end up back in default. You are certainly not alone. 

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