OHCS staff sent me a copy of a letter HERE that successful MPAP applicants should be receiving shortly, if they haven't received it already. Key portion says:
Both OHSI and your lender must approve your application before you can receive assistance. OHSI is working with almost 190 lenders, and more than 3,000 applications have been sent to lenders for their review. As part of that review process, lenders typically agree to halt foreclosure proceedings for 45 days, which gives everyone time to process an application
The web page referenced in that letter that contains a list of servicers who have agreed to participate to date is HERE.
Thanks for the valuable post. It said that if your service lender is not listed...then I am wondering if that means major delay. All in all, very few service lenders are listed. My service lender has not exactly been the voice of reason or inclined to work with me at all, so do they have the power to squash the whole deal? The letter says that you can refer your lender to OHSI, but to me that means nothing. My service lender (once you navigate 20 minutes of phone tree options) is such that they don't know from one second to the next what is going on, nor does the right arm know what the left arm is doing at any one point in time. This dates way back to the Make Home Affordable programs in which lenders were paid millions, only to help a handful of Americans. And this lender is large corporation, and someone who you may have actually Met in Life. So if they are not listed, then...?
ReplyDeleteThe thing that is difficult to swallow here is that those who are/were already struggling on December 10th, when the application process began, were already at a desperate point in terms of being able to meet mortgage contract obligations. These people now have paid (somehow, if they even could at all) 3 MORE months...
My hunch is that by the time the state and the agencies get their act together and actually execute this multi-million dollar program, that half of the so-called, "lottery winners" who qualified in December and January, will now be disqualified.
PS. I do want to make it clear, to those that do not know, that this is NOT actually a hand out, but in fact a bridge of assistance in the form of a loan, with conditions.