If you have been reviewed for any kind of mortgage assistance program and have provided financials to your lender then you have probably claimed a family cash contribution as income to be considered in your financial evaluation.
Well OCWEN loan servicing beginning late may has stopped accepting cash contributions as considerable income on Ocwen Loan Modification. you can no longer have your son, daughter, uncle, or brother write a letter stating they contribute x amount of money to the monthly mortgage payment, groceries, car payments etc. in order to increase your monthly income.
If you are in the middle of a mortgage assistance review with OCWEN and were declined due to this new practice, or have thought of seeking assistance with your OCWEN loan but don’t make enough income with out contributions. You can try claiming that your contributor has moved in to your property and have the income considered as rental payments, although OCWEN might request a rental or lease agreement, a “dummy” contract can be drawn out and signed by all party’s. OCWEN will not go as far as verifying their occupancy of the property.
OCWEN Loan servicing no longer accepting cash contributions by email@example.com