Complaint Review: Ocwen Federal Bank FSB

In 1998 I had a forbearance with Ocwen and paid it on time. I sent in December's payment and it was return with a letter saying remit full balance by Decmber 26, 1998.

Amazingly the letter wasn't mailed to me until December 26th.
I sent in the same money and then the payment for Jan. so that both payments would be received by Jan. 1.

I heard nothing!!! Jan. 15 a letter was taped to ,my door telling me that I had 30 days to vacate the property and there was going to be an auction held on Feb 15.1999.

To cut to the chase the house was auctioned and a friend of mine redeemed the house and paid Ocwen the asking price. No one else bid on the house.

August of this year 2002 the IRS came after me stating that Ocwen turn in a form stating that they wrote of the loss of the house for the exact amount that was paid at the auction.

I had to hire a tax attorney to clear that up but it still shows as if they gave me the house and took the loss.

I just found out today that they have also reported this on my credit report as if the gave me the house and they took a loss.
They were paid the exact amount that I owed and yet filed a federal report as if they gave me the house.

These are not honest people and if they would lie to the IRS they would do anything.

If they buy your mortgage get it refinanced right away and don't give them an opportunity to screw you over.

Doris
Springfield, Missouri