Complaint Review: Ocwen Loan Servicing LLC

By an Ocwen rep, I was lured into doing a Forbearance plan. Using the terms such as, "Times are tuff", "Letting use skip a month" and so on. Not really explaining what/who the Forbearance Plan is really helping out. After checking my payment history since the start of the Forbearance Plan, I found that every month that I'm in this plan; I receive a late charge of $106.40. I started this plan in February of 2009 and the plan ends September of 2010. According to my calculations, I will have to pay $1915.20 in late fees. On top of that, as long as I'm in this plan, they will report a 30 day late on my credit. When I called Ocwen on this matter, they told me I could stop the Forbearance Plan by just paying $4600. It's that simple!

I'm in a Forbearance Plan to help my financial situation, do they think by charging $1915.20 or paying $4600 is going to help me. Also, with Ocwen reporting a 30 day late on my credit, I can not refinance with anyone else.

Ron
Swartz Creek, Michigan
U.S.A.