As a part of its “Summer of Help & Hope” series, this Sunday, July 29, Ocwen Financial Corporation along with the National Association for the Advancement of Colored People (NAACP) and NID Housing Counseling Agency (NID) will host an event for Miami area homeowners who are currently struggling with their mortgage. The event will give Ocwen customers the opportunity to meet with Ocwen Home Retention Agents and NID housing counselors to explore loan modifications and other options to make their homes more affordable.
“The rate of foreclosure in Florida, specifically Miami-Dade County, is much higher than the national average,” said Jill Showell, SVP of Government and Community Relations at Ocwen. “Ocwen is committed to helping struggling borrowers in Florida, and across the country, remain in their homes and a part of their communities. Having trusted partners such as the NAACP and NID, organizations that work in some of the nation’s hardest hit communities, allows Ocwen to reach more of its customers who are in need of assistance.”
In Florida alone, Ocwen services more than 117,000 loans and from January 1, 2008 to June 30, 2017 over 85,500 loan modifications. Around 38 percent of those modifications included principal forgiveness, as permitted by applicable agreements, totaling more than $2.15 billion. From a nationwide perspective, Ocwen has granted more than 735,000 loan modifications, which equates to billions of dollars in principal forgiveness for homeowners at risk of foreclosure.
“Homeownership remains one of the single biggest ways a person can build wealth in America,” said Marvin Owens, Senior Director of Economic Programs at the NAACP. “Even though the housing market is showing signs of recovery, homeowners in Florida’s minority communities continue to struggle to pay their mortgages and remain in their homes. Ocwen borrower outreach events are crucial to helping homeowners receive assistance and resources on the local level, and hopefully have a chance at a fresh start.”
The event will be held at the Betty T. Ferguson Recreational Complex from 9 a.m. to 3 p.m. with no cost for admission or parking.
“NID is a strong advocate of homeownership. One of our goals is to help families facing financial hardship, remain in their homes and avoid foreclosure,” said Ray Carlisle, President of NID. “NID has seen firsthand the value of local homeowner outreach events. We have had significant success collaborating with the NAACP and Ocwen, and together are making a difference in the lives of many low- and moderate-income and minority families throughout the country.”
To learn more, call 855.459.2514 or click here.