2nd Mortgage Settement with Ocwen Loan Servicing LLC

Borrower was late 9 months and was owed $59,000.00 on a 2nd mortgage with Ocwen Loan Servicing LLC.
We received a settlement offer of $4,000.00.  Once the Borrower pays the $4,000.00 the 2nd loan is paid and the 2nd lien is released! Check out the Old Terms and New Terms.  The Client will save over $162502.31 since he would have paid $166,502.31 over the life of the loan once all the payments would have been made.  Actual Approval


Old Terms

$47,619.15 Original Loan Amount* Actual Loan Amount $59,000.00 with all late fees
11.25% Interest Rate
30 Years Fix
$462.51 Payment
$166,502.31 Total Payments after 30 Years
$118,883.16 Total Interest paid after 30 Years

New Terms

$4,000.00 Payment
$ 0 Payment
0 2nd mortgage