- Report: #897150
Complaint Review: Ocwen Loan Service LLC - West Palm Beach Florida
Reported By:
Patrick -
Lilburn, Georgia, United States of America
Submitted:
Updated:
-
Author Confirmed
Why?
Ocwen Loan Service LLC
West Palm Beach, 33416-4737 Florida, United States of America
Phone:
8007462936
Web:
www.ocwen.com
Categories:
Business Rating:
(0)
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Ocwen Loan Service LLC Fraud, Misappropriation of escrow funds, West Palm Beach, Florida
I recently received my annual Escrow Disclosure Statement of which Ocwen has shown a "projected" defficiency of $2500. I understand the cushion etc., but they have set my escrow account for an IMPOSSIBLE target.
My escrow payments being $382 ($4585 roughly annual) and payments being $4469. A cushion of any amount is impossible. Hence an increase in my monthly mortgage payment of 200 dollars was tacked on to cover the difference (standard practice?). Possibly, but this creates a continuous cycle of raising my payments while the amount of annual payments from escrow remain the same.
Where does the extra 2000+ dollars go? OCWEN!! This is wrong! It is an obvious attempt for ocwen to cash in at the expense of hard working people barely getting by; knowing there is no recourse available. Ocwen must be brought down!
My escrow payments being $382 ($4585 roughly annual) and payments being $4469. A cushion of any amount is impossible. Hence an increase in my monthly mortgage payment of 200 dollars was tacked on to cover the difference (standard practice?). Possibly, but this creates a continuous cycle of raising my payments while the amount of annual payments from escrow remain the same.
Where does the extra 2000+ dollars go? OCWEN!! This is wrong! It is an obvious attempt for ocwen to cash in at the expense of hard working people barely getting by; knowing there is no recourse available. Ocwen must be brought down!
