The True Story Of A Woman And Foreclosure

February 13th, 2008 | Tags: Foreclosure

For Sue Wilson life suddenly came to a halt. Last January she met with an accident from which she was lucky to come out with a crushed right arm for many of those in the other vehicle died. But the going has not been easy now that Sue moves around with pins, plates, screws and a bruised heart and chest. Within two months of joing work her plant shut down..

69 years old Sue took a mortgage for $54,000 on her house. to partly pay for her medical expenses and to repair the house. She has been staying here since 1957 on Sparrow Springs Road when this piece of land was gifted to her by her family when she married. Since the death of her husband four years ago, Sue has been living alone.

Sue began to fall behind her mortgage payments from August 2007. She contacted Ocwen Loan Servicing placing before them the situation. She said that as soon the settlement came through she would catch up. Ocwen agreed to it.

Bill Rineheart, a spokesperson of Ocwen however is not sure whether there had been a gap in understanding or not. They were under the impression that settlement was ready and she would immediately remit the amount.

On 28^th September Susan got a notice from the Sheriff’s department asking her to attend a special proceeding session of the court. Susan immediately contacted Ocwen and wanted to know if she should go to the court. They said that it was not necessary if she was ready to pay. Rinehart parried the question when asked about whether anybody had made such a clear statement. Susan’s house was auctioned on 21^st November in the court premises for $52,080. Just after Christmas she received a settlement cheque for $24,750.

The accounts from both sides showed that Susan stopped making payments from November 2006. In February 2007 both sides agreed upon a forbearance plan allowing her delay payments. She failed to continue after August. For Ocwen the clock came to a stop. Wilson was evicted on 4^th January.

Ocwen explained that they try their best to prevent foreclosures as this is costly for them also. But after all they are in the market for business and have to go about their work. Susan is now living with her grandchild in a two roomed apartment pining for the lost house.