Ocwen Loan Servicing
This client was approved after defaulting on a previous modification. His monthly mortgage payment from the previous modification was reduced by an additional $103.28. In addition, he received a principal reduction of $110,075.50. Loan was also brought current after being in default for 5 years.
After aggressively defending his case, and working closely with our loss mitigation team, this Client was able to receive a reduction in his monthly payment from $1,448.71 to $915.61, we were also able to lower his interest rate from 8% to 2%. The principal on this loan was dropped by $115,247.15 from $243,000.00 to $127,752.15.
As a direct result of the efforts of the loss mitigation team at the Arcia Law Firm, this Client received a huge $190,161.50 principal reduction, from $377,161.50 to $187,000.00. Her monthly payments were cut from $1,899.00 to $813.00 per month including all escrow items, and her interest was dropped to 2%.