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Company Loan Type APR Est. Pmt.

1-4 family rider

Posted on: 28th Feb, 2010 12:12 pm
i am going through a proposed modification for a rental house that i am 6 months behind on. Ocwen wants me to sign a 1-4 family rider that will give them the right to collect the rent. they have lower the payments, but they would get the rent, can they do this? can I refuse to sign or change the rider?
That is crazy. The rent is helping you to make your payments. Why would you agree to let them HAVE your rental income?
Posted on: 28th Feb, 2010 12:39 pm
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