Posted on: 15th Oct, 2012 02:45 am
Hello there… Our mortgage was with Premiere and then changed hands quite a number of times. Just recently it got sold to Ocwen. We have never missed a payment, have decent credit, and are underwater only about $50K. Ocwen has recently increased our payments due to escrow after which we are in the danger as we can’t afford the payments. Everything I've read about HARP says the loans must be held by Freddie or Fannie. WHY? According to Ocwen, Aurora owns our mortgage. So this means we don't qualify for HARP? What do we do?
Hi Finomela!
Welcome to forums!
In case the HARP 3 gets passed, then loans which are not held by Fannie Mae or Freddie Mac will also get refinanced. But unless that gets passed, things will be difficult for you. You should contact Ocwen and check out if they can offer you any help.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
In case the HARP 3 gets passed, then loans which are not held by Fannie Mae or Freddie Mac will also get refinanced. But unless that gets passed, things will be difficult for you. You should contact Ocwen and check out if they can offer you any help.
Feel free to ask if you've further queries.
Sussane
Although what Ocwen told you may be true I would not take their word for it. To determine whether or not your loan qualifies for a HARP refinance you should check it out yourself. You can access Fannie Mae's loan lookup tool at: https://www.knowyouroptions.com/loanlookup and Freddie Mac's lookup tool at: https://ww3.freddiemac.com/corporate/