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OHIO
Ocwen Announces Millions in New Mortgage Debt Forgiveness
Financial services holding company Ocwen announced in
November that it had worked closely with various nonprofit agencies
to forgive approximately $14.6 million in mortgage debt for struggling
Ohio homeowners. During the first nine months of 2017, Ocwen also
helped approximately 1,200 Ohio families dodge the foreclosure bullet
and keep their homes.
In a press release, Jill Showell, SVP of Government and
Community Relations at Ocwen, said, "Ocwen is making a real
difference in the lives of many struggling homeowners across the state of
Ohio, and remains committed to helping families and communities."
Based out of West Palm Beach, Florida, Ocwen services
approximately 44,000 loans in Ohio. As Ohio is still laboring to recover
from the housing crisis, Ocwen has forgiven nearly $342 million in
Ohio debt since January 1, 2008, and provided more than 26,500 loan
modifications for Ohio borrowers. On a nationwide scale, Ocwen
has forgiven billions of dollars of mortgage debt and completed
approximately 755,000 loan modifications.
In December, Ocwen partnered with Neighborhood Housing
Services (NHS) of Greater Cleveland to host an exclusive event
designed to help Ocwen homeowners examine their options, if they are
struggling to make their mortgage payments. Borrowers got the chance
for individual, face-to-face meetings with Ocwen Home Retention
Agents and Housing Counselors, all working to help find the right
solution for each particular situation.
"Ocwen's focus on its customers and community organizations in
Ohio produces positive results," Showell said. "We are proud to work
closely with local nonprofits, such as NHS of Greater Cleveland,
Empowering and Strengthening Ohio's People (ESOP), and Working
in Neighborhoods (WIN) to help homeowners in Ohio find solutions
that allow them to remain in their homes."
Michael Pires, Interim Executive Director of NHS of Greater
Cleveland, said, "My team and I know first-hand the challenges facing
families hoping to achieve, preserve, and sustain the American Dream
of homeownership. I encourage borrowers to attend our upcoming
event to learn more about local resources and ways to work with NHS
and Ocwen to make their home more affordable."
