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Ocwen will reduce balance for a cut of the appreciation

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing Ocwen will reduce balance for a cut of the appreciation

This topic contains 1 reply, has 0 voices, and was last updated by Avatar of ahutton ahutton 7 years, 12 months ago.

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  • #6869
    Avatar of ahutton
    ahutton
    Member

    http://www.palmbeachpost.com/money/foreclosures/ocwen-praised-for-bold-mortgage-modifications-1973879.html

    Hmmmmm. We have Ocwen and are fighting BOA with 3 Arck. Sounds sorta like a HOPES deal.

    Amy

    #33988

    What Ocwen calls this is a S.A.M. or “Shared Appreciation Mortgage”. It is modeled after the original FHA Equity Share Mortgage. Other lenders are now catching on and yes, it is exactly like HOPES except without an EHTrust in place. Our goal is to show each lender that a S.A.M., in the form of an EHTrust is a much safer and superior arrangement.

    With a HOPES arrangement via an EHTrust, there is never a need to foreclose on a defaulting resident or to Short Sale a property. We simply replace the current resident with no further qualifying, red tape or hassle. As long as they can afford the closing costs and monthly payments, they can be the resident. No Down, No New Loan!

    Sound familiar?

    #33989
    Avatar of corkhorner
    corkhorner
    Participant

    forward.

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