Ocwen Loan Servicing - Ocwen Federal Bank ripoff Breach of Settlement Agreement West Palm Beach Florida
Ocwen,(which is NewCo spelled backward) filed a foreclosure action against me in Feb of 2004. After 36 months of litigation, we finally reached a settlement agreement in Feb. of 2007. As part of the agreement, Ocwen was supposed to remove all negative reporting from the credit bureaus.
As of August,2007, they have failed to comply even though a Judge ordered them to do so on July 30, 2007.
Their modus operendi is to target borrowers who have lots of equity in their properties. Then they will back date the start date to pay, for example in my case from May 1, 2002 to March 1, 2002 (thus putting the person two months in arrears from the get go). Next they will claim not to have received a payment (ie in my case the Nov. 2003 payment).
Luckily for me, I saved all my paperwork and my cancelled checks, so I was able to prove to their third attorney that they were wrong. Their first attorney realized they were wrong back in 2004 and wanted to settle so they got rid of him and found another shister to try and save their case. Luckily for me, she blatently forged a stipulation and was detected by the Judge. She was removed and faces charges. At this point, their third attorney realized it was time to settle since they had no case.
Ocwen took revenge by failing to clean up my credit and is thus preventing me from refinancing. Truly, this is a criminal organization and needs to be put out of business permanently. They already had to give up their Federal Charter in 2005 because of the heat. They can not survive with their colections of nickels and dimes so their profit center is bogus foreclosures.
Michael
Tampa, Florida
U.S.A.
3 Updates & Rebuttals
Michael
Tampa,Florida,
U.S.A.
update 12/15/07
#4Author of original report
Sat, December 15, 2007
In order to get Ocwen to honor the settlement agreement and clean
up my credit, I had to file a "Motion to Vacate Settlement Agreement &
Impose Sanctions". We had the hearing on Dec. 4, 2007 wherein their
attorney had to admit that they had not complied and gave a "song
and dance" about why they weren't complying. The Judge refused
to accept their explanation and issued an "order" ordering them to
clean up my credit as per the settlement agreement. By Dec. 6, 2007
they had corrected my Equifax report causing my credit score to im-
prove dramaticly. They have still not corrected Transunion and Experian.
The lesson I learned from all this, when you have not defaulted,
when they don't have the note, don't settle. Go to trial. They will
not honor a settlement agreement without a Court Order. This is
what you'd expect from a criminal enterprise that comes to Court
with "unclean hands". You have to be willing to go all the way and
take them to the mat. They laugh at weakness, they crawl before
strength. I should have gone to trial and kicked their butt but it
would have been costly and time consuming so I settled for a draw
instead of a victory. I would do it differently if I had it to do over.
Michael
Tampa,Florida,
U.S.A.
update 12/15/07
#4Author of original report
Sat, December 15, 2007
In order to get Ocwen to honor the settlement agreement and clean
up my credit, I had to file a "Motion to Vacate Settlement Agreement &
Impose Sanctions". We had the hearing on Dec. 4, 2007 wherein their
attorney had to admit that they had not complied and gave a "song
and dance" about why they weren't complying. The Judge refused
to accept their explanation and issued an "order" ordering them to
clean up my credit as per the settlement agreement. By Dec. 6, 2007
they had corrected my Equifax report causing my credit score to im-
prove dramaticly. They have still not corrected Transunion and Experian.
The lesson I learned from all this, when you have not defaulted,
when they don't have the note, don't settle. Go to trial. They will
not honor a settlement agreement without a Court Order. This is
what you'd expect from a criminal enterprise that comes to Court
with "unclean hands". You have to be willing to go all the way and
take them to the mat. They laugh at weakness, they crawl before
strength. I should have gone to trial and kicked their a*s but it
would have been costly and time consuming so I settled for a draw
instead of a victory. I would do it differently if I had it to do over.
Michael
Tampa,Florida,
U.S.A.
update 12/15/07
#4Author of original report
Sat, December 15, 2007
In order to get Ocwen to honor the settlement agreement and clean
up my credit, I had to file a "Motion to Vacate Settlement Agreement &
Impose Sanctions". We had the hearing on Dec. 4, 2007 wherein their
attorney had to admit that they had not complied and gave a "song
and dance" about why they weren't complying. The Judge refused
to accept their explanation and issued an "order" ordering them to
clean up my credit as per the settlement agreement. By Dec. 6, 2007
they had corrected my Equifax report causing my credit score to im-
prove dramaticly. They have still not corrected Transunion and Experian.
The lesson I learned from all this, when you have not defaulted,
when they don't have the note, don't settle. Go to trial. They will
not honor a settlement agreement without a Court Order. This is
what you'd expect from a criminal enterprise that comes to Court
with "unclean hands". You have to be willing to go all the way and
take them to the mat. They laugh at weakness, they crawl before
strength. I should have gone to trial and kicked their a*s but it
would have been costly and time consuming so I settled for a draw
instead of a victory. I would do it differently if I had it to do over.