OCWEN Loan Servicing, LLC Stuck in the worst mortgage ever. They refuse to remodify. Can't refinance with anyone else Orlando Florida
I am stuck in what more than one person has stated to be "the worst mortgage they have ever seen". I refinanced with Fidelity in Charlotte N.C in April of 2007, by the way they are no longer there so I can't contact anyone. OCWEN got my mortgage somehow and I found out this year that my 30 year fixed which I was told by Fidelity turns out is a 50 year 5 year fix which I'm paying more than before I refinanced. This of course is my fault as I let the quick talking mortgage broker run too much.
Anyway after finding out that I have this ridiculous mortage that I was also told I should have never been put in a 10% interest it should have been around 6% I of course tried to refinance....nobody will touch it. So I'm stuck paying a high mortgage with high interest and can't get out.
My husband lost his job and now makes half of what he was, in October I will have to start repaying student loans and there is no way that this mortgage is going to work.
After calling OCWEN many times and always speaking to someone in India, they will try and get away by when you ask where you are calling they say "we have call centers in florida", but ask ..."no, where are you?" and they will tell you India. This company will pretend they will try and work with you. I spoke with a supervisor who I stated that I feel my terms of mortgage should be redone since I should have never been given this in the first place, he made me fax all my paperwork in and told me I would hear back in 5 days...okay 2 weeks later I have to recall only to be told that they see no reason for remodification since I'm not late and can pay. They then told me that I had to change my financial statement to say that my bills weren't so high and then they could "work with me". This is fraud and I let the gentleman know this, he said "fine". Well after lowering my bills and still not hearing back...2 weeks later called again only to be told....no we will not modify, you can pay your mortgage. I have yet to receive any letter denying my modification request. I spent alot of time faxing information when they had no intention on ever helping. I asked them if they were waiting for me to lose my house before they would help but after reading posts on them I don't think they would even help then.
I'm stuck and don't know which way to go....I'm thinking on selling the house but I probably won't make enough to cover what I owe on the mortgage and there is a $6,000. early pay off.
If someone has any advice that has dealt with this company please let me know.
Callecoco
Inverness, Florida
U.S.A.
2 Updates & Rebuttals
Callecoco
Inverness,Florida,
U.S.A.
Tried to get out
#3Author of original report
Sun, October 19, 2008
Yes, I have tried with every company possible to get out of this mortgage. The original company who gave it to me (Fidelity) went under and the people who took over their files called to try and help me because as the man said I "had the worst mortgage" he ever seen. Unfortunately because the housing market fell I am now $20K upside down so everyone says the same thing....I have to wait for the housing market to rise again but in the mean time just keep paying the crooks at OCWEN.
Sdsoftbl
Escondido,California,
U.S.A.
Many are in the same situation as yourself
#3Consumer Comment
Mon, August 18, 2008
The exact same thing happened to me. I tried to get a loan mod because I lost my job back in May of 2007 and had to take another job that paid a lot less. I was promised a loan mod. I faxed in all the required documentation and even applied online. I hadn't heard anything a couple weeks after I sent in the information, called and was told that they had a lot of loan mods and they were running behind, so I called back again in a week. I received the same answer as before, they are running behind, so I continued to call every week after that until someone finally told me that my loan mod had been denied, I make enough money to pay my mortgage. In taking this new job, I lost $50,000 a year in salary, how could I make enough money?!?!?! Their servicing preactices are predatory and something needs to be done about it!! Every other lender and servicer are working with distressed borrowers, what makes Ocwen feel that they are so different? Apparently, they want to be in the real estate business with all the homes they are going to foreclose on due to their lack of assistance to their borrowers. I would recommend getting out of the loan and try getting an FHA loan.