Re: Ocwen bought my second mortgage after the foreclosur
12-27-2012 06:47 AM
Yes it was purchase money and unfortunately I live in a recourse state (Louisiana) which gives OCWEN 10 years! to pursue legal action against me. I was figuring that there wasn't much I could do. They are reporting it as a HELOC which of course it wasn't. I contacted one attorney and he just wanted me to file for bankruptcy (lazy way to make a quick $1500) I just don't understand how they can keep reporting it as open and delinquent after 4 years of no activity. And they bought the loan after forclosure, so they basically bought a junk debt that they are hoping to collect on. I guess I will have to figure out a way to settle with them, which I'm sure I can do for pennies on the dollar. I really don't want to wait another 6 years to be able to buy another house.