OCWEN Gets Creative With Loan Modifications

Underwater borrowers may have a new loan modification option, at least with Ocwen Financial Corporation.  Ocwen is expanding its SAM (Shared Appreciation Modification) Program, which allows borrowers to modify their loans at a more realistic value – generally, about 95% of their current value.  In return for the modification, the homeowners contract with Ocwen to share 25% of the home’s appreciation with the investor when the home is eventually sold or refinanced.

Tisha Black Chernine, Esq.