Ocwen /PHH Mortgage Mess

[Anonymous]

Hi All:

I have a Mortgage being served by PHH , used to be Ocwen ... According to PHH my loan Matures on 2035 on a 30 yr original loan....but, according to my credit score accounts... this was a 40 yr loan...I ordered an amortization table from PHH , which I received, and it shows that in 2035  , I still owe a Lot of money....

I do know that I refinanced about 10 years ago , when i was about to foreclose it....

PHH can not give me any paperwork from that refinancing, and  Ocwen , I believe doesn't exist anymore...

any suggestions??

[MauiMan85297]

When you were about to go into foreclosure and your lender helped you-did your payment change to a lower amount?  if you did a loan modification to help you out then that relief you received wasn't just wiped away it was added to the back-end of the loan hence your 40 year mortgage.

[JVille]

Your Mortgage/Deed of Trust is a recorded document against your property. You can obtain a copy of this document from the county courthouse where the property is located. The basic terms are in that document to include the Final Due Date.
You can also call any local title company In that county asked for the Customer Service Dept and ask them to “Pull” a copy of the last two recorded documents on that address and email them to you. Generally they will do this for free.
Good Luck

[NC_Mtg_Loaner]

I have seen an amortization schedule for one of those 40 year loans the amortization schedule is horrendous.  At year 30 when the loan matures, there is a balloon payoff amount due.  

If you have one of these then you need to do whatever you can ASAP in order to refinance that beyotch so that you can begin generating more equity with your monthly payments.   you might be fortunate if your home value has increased but you need to research refinancing out of that loan program now.

[Anonymous]

You are correct...thats what happened exactly...so that means , I have to refinance that property ASAP..

[Anonymous]

I will do it ASAP..thanks god I recently noticed... i have better credit now...we 'll see what we can acomplish.

Thanks all for your great help