Mdluk
Tucson,#2Consumer Comment
Wed, August 05, 2009
I was wondering do you need info on Ocwen loan servicing,or were you talking about your lender info? I have a lot of info on Ocwen loan serviceing if you need it. Mike
Dianne at seneca lake
Salesville,#3Author of original report
Mon, July 13, 2009
Please note that when Ocwen charges you 10% interest on a payment which is 15 days late, that is to say they are charging you 240 % APR interest rate on your payment.. My note states that illegal fees are not subject to being paid... 240 % interest is Illegal in Ohio...... It Is Interest because they report it as interest on you federal tax forms at the end of the year as interest paid. One should be able to go to court and state that Ocwen illegally misapplied your payment to themselves and shorted you. That if they applied the payments properly more would be applied to other catagories on your mortgage. Also the note states that they may charge the note interest rate for escrow balances and fees , not 240%. There is a clause of separation in the contract which may be interpreted to sever the illegal operations of Ocwen loan servicing from paying your mortgage to Ocwen loan serviceing ,if they are operating or suspected of operating illegally. I need to find a friendly new loan service provider. can anyone help. I would like to pay my loan to an unbiased and ethical escow company. Dianne