I was forced to take two sub-prime loans to save my family's home of 20 years following a 3 year permanently disabling work injury, wrongfully denied by Workers' Comp. Apeals Board and denied by Zurich American Ins. (found as a misdiagnosis by LAC+USC Med Center two years later.
My family (with all teens working) saved us from five foreclosures in three years.
Ocwen adreed to renegociate our loan for an agreed fee. Thiss process took approx. two months, yet Ocwen notified us (April, 2008) that our loan was being sold to GreenTree Servicing.
We've been in negociations with GreenTree for some three months, who has now proposed a 5 thousand deposit for the loan restructure, and payments for two years at $2, 200 monthly (instead of our former $3, 300.) for two years, yet this strikes me as another predatory loan, as it readjusts within two years back to the $3, 300. per month.
Simply sounds like a new predatory loan to me.
Am on fixed "premanent disability" with a working wife who nets $900. per month. Nothing is signed yet.
What do we do?