Dave
Jacksonville,#2Consumer Comment
Mon, June 25, 2007
I have heard of this happening many times with Ocwen and others, however, what I fail to understand here, is why you were put into forebearance. You should've had all your house payments in the bank for the previous months, and paid it in one lump sum when they got their act together. It sounds like you spent the money, which is totally your fault. I am NOT sticking up for Ocwen, because we all know what scum they are, but in this case, you are totally to blame for being put into forebearance! If you had banked April thru July's house payments, as you should've, all you would have had to do is send them those payments and everything would have been ok. As far as owing more than your loan, it's because of your interest and penalties for the previous months. Again, this isn't right, if in fact, they didn't let you pay them. The terms of the loan cannot change because your loan was bought by someone else. They cannot raise interest, unless you have an ARM. They also can't raise your payment, unless you have escrow issues, such as increased taxes or insurance.