Home loan modificationLong story so bear with me. Need some solid advice. Feb of 2014 will be 5 yrs that we've been working on a modification with BofA then Ocwen. It's been one "missing or incomplete" doc after another with these guys as you can probably imagine. Seems like they've been trying to stall at every turn. Horrible experience. Initially we were having financial difficulty but now making more money than we were when we got the loan. Ocwen says the balance, with penalties and interest, is over 280,000. Initial loan was for 192K and house right now is worth about 220K. Loan is in my wife's name. My credit I'd almost to the point where I can buy one in my name. I'm not willing to pay more for a house than its worth just because they decided to drag this out for this long. Especially when my wife can almost walk away with a deed in lieu or BK. We want to keep it but wonder if the penalties can be negotiated down to what the house is worth. Not trying to get away with anything but feel like they've had more than enough time and info to make a decision long before it got to this point.December 13 2013 - Raleigh0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.