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Ocwen Announces Millions in New Mortgage Debt Forgiveness in Ohio

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.”

Ocwen is based out of West Palm Beach, Florida, the company services approximately 44,000 loans in Ohio. As Ohio is still laboring to recover from the housing crises, 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.

This December, Ocwen will partner 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 will get 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.

The joint Ocwen/NHS event will happen on Thursday, December 14, from 3 p.m. to 8 p.m. Eastern Time, at 5700 Broadway Avenue in Cleveland, Ohio.

“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.”

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 17 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@thefivestar.com.
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