Hello, I'm a homeowner in Bartlett,TN and about 25,000 underwater with a convetional loan(OCWEN Mortgage).7.25 % Is there any assistance available?

It sounds as though you may have one of those conventional loans that do not fall under fannie mae or freddie mac ownership (regardless of serving bank (such as OCWEN). It is well worth finding out if you have not done so. Any mortgage consultant can look that up for you, or you can try and look it up yourself (google for the websites). Then you would be eligible for a HARP loan. Otherwise...as difficult as it may seem...you have to request a loan modification. Keep records of every conversation you have with a rep.at OCWEN , Also keep records of paperwork and documents you send to them. You do not to have late mortgage payments to seek a loan modification and get one. You will need to show that your overall debt to income ratio is on the high side (often just over 38%) and that the payment is a burden. I might mention to them that your only other alternative is to list your home for sale...seeking a short sale. I would hope they would prefer to work with you for a modification rather than lose money in a short sale.

If the loan is not owned by Freddie or Fannie, your only option is a loan modification.