Posted on: 28th Feb, 2010 12:12 pm
i am going through a proposed modification for a rental house that i am 6 months behind on. Ocwen wants me to sign a 1-4 family rider that will give them the right to collect the rent. they have lower the payments, but they would get the rent, can they do this? can I refuse to sign or change the rider?
That is crazy. The rent is helping you to make your payments. Why would you agree to let them HAVE your rental income?