Complaint Review: Ocwen Federla Bank

As I read the stories listed here, I began to feel sick. I too have been victimized by Ocwen Federal Bank and all the complaints I have read so far are true for me also. Outrageous late fees, fees on top of other fees, bad customer service, and just all around ripping off hard working home owners. They need to be stopped. I can not believe companies can just do things like this to consumers. This company ranks up there with Enron.

I am a single mom trying to do the best I can to keep a roof over my child's head. It is very hard when her father does not pay his child support. My problem with Ocwen is that when I got this mortgage, it was with Ameriquest Mortgage Company. It was taken over by Ocwen like three months later. My financial information included the child support shown as part of my income in order for me to get approved for the loan.

In 2002, the child support stopped. I called Ocwen to let them know the reason I was falling behind but they said they could not help me. I ended up on a forebearance agreement for over a year with an increased payment. It didn't make sense to me, why did they think I could pay a higher payment when I couldn't pay the regular payment on time. When I finally did get caught up, they raised the payment by $400.00 per month. After calling them for a week straight and sending in my financial information about ten times, they finally lowered the payment back to the original payment amount.

Since then they say I have been in default about 3 times. I have not paid as much as some of the others I have read about in fees, but I can tell you I wish I would have never bought a home. I know renting is just throwing your money away but that looks like what I am doing by trying to own something. I have my doubts that I can get refinanced through another company due to credit problems from a messy divorce. I want to know if there is something that can be done about that awful company so no one else gets ripped off. I can not believe that with all the complaints there are on this site that something has not been done.

Emily
South Carolina
U.S.A.