Ocwen Bank - Ocwen Financial Solutions Private Limited, Ocwen Loan Servicing - Ocwen NIMS Corp - Ocwen Partnership - Ocwen Technology Xchange - OAIC Mortgage Residential Securities Holding Ripoff Ocwen bought our mortgage then began an immediate attack with intent to take our property West Palm Beach - Orlando Florida
In April, 2004, we were notified that our mortgage was being sold to Ocwen Bank of Orlando, Florida. No other details were given. This change was to take place on May First of that year.
I called Ocwen the first week of May, 2004, gave them my name, explained the situation to the person answering the phone, and asked for information regarding mailing address, time of month the payment would be due, and if the payment amount would be the same as it was with the previous company.I was told that our account was not yet set up and we would be notified with details soon. At the end of May I called again and received the same answer.
In June I again called and was again told not to send any payments as the account was not set up, it had to go before a "board" and we would be notified. I was told we did not have an account number and any money sent would not be credited to our mortgage.
Finally, at the end of July, 2004, we received our first correspondence from Ocwen, announcing that we were in foreclosure because we had missed three payments!
We were put into forebearance immediately, made all payments which are now $100.00 higher than with the previous company. All payments were made, and made on time. At the end of the first year, the mortgage was $2000.00 higher than wehn Ocwen took over the loan.
Our mortgage was $43,000.(approximate) when Ocwen Bank took it over. We now owe $54,000 after three years.
In 2006, we filed a complaint with the State Attorney General. Ocwen sent reams of false and totally fabricated "copies" of communications supposedly sent to us during the first three month of our association. None of the letters had been sent to us. With their falsified documents placed with the Attorney General's office, we lost the complaint.
Ruth
Crawfordville, Florida
U.S.A.
1 Updates & Rebuttals
Dave
Jacksonville,Florida,
U.S.A.
I don't understand
#2Consumer Comment
Mon, June 25, 2007
I have heard of this happening many times with Ocwen and others, however, what I fail to understand here, is why you were put into forebearance. You should've had all your house payments in the bank for the previous months, and paid it in one lump sum when they got their act together.
It sounds like you spent the money, which is totally your fault. I am NOT sticking up for Ocwen, because we all know what scum they are, but in this case, you are totally to blame for being put into forebearance! If you had banked April thru July's house payments, as you should've, all you would have had to do is send them those payments and everything would have been ok.
As far as owing more than your loan, it's because of your interest and penalties for the previous months. Again, this isn't right, if in fact, they didn't let you pay them. The terms of the loan cannot change because your loan was bought by someone else. They cannot raise interest, unless you have an ARM.
They also can't raise your payment, unless you have escrow issues, such as increased taxes or insurance.