- Report: #533394
Complaint Review: Ocwen Loan Servicing - Orlando Florida
Reported By:
skeet755 -
Front Royal, Virginia, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Ocwen Loan Servicing
Orlando, Florida, United States of America
Phone:
Web:
www.ocwen.com
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Ocwen Loan Servicing Ocwen loan modification, charging fees for certified mail Orlando , Florida
I went through alot of paperwork to Ocwen to try and get a modification on our home. My husband had a heart attack and then was put into the hospital to get a pacemaker/defibrillator put in. He was off work for 2 months and a week.
When he returned to work his hours were cut to less that 40 hours a week, because of the economy,as per the company. The employees were not paid for overtime and all bonuses were cut.
We are only a month behind on our mortgage payment because of this. But Ocwen has found new ways to increase what we owe. Now they are charging us for certified mail, which is the same letters I receive via regular mail. At one time they were putting my late payments into a seperate heading and it took me many phone calls to finally get a person on the phone who understood me and straightened it out. I had over $400.00 just sitting in limbo, not being applied to my payments.
As per my conversation with one of their reps tonight, they will continue to send these certified mailings and charge us for them until my payments are caught up and current.
As for our loan modification, we were turned down, because our debt income ratio is already below 31%. This I don't understand. They say we should be able to make our house payments with no problem. If only the house payment is considered, why did I have to send in utility bills, medical costs, food costs,income tax from 2008, letters from employer about cut hours, overtime, etc??
I have never received a letter from Ocwen telling me that I was turned down, all I receive are calls from reps asking when I can make a mortgage payment, these I get everyday, sometimes more than once a day.
1 Updates & Rebuttals
ashutosh
United States of AmericaSOLUTION TO UR PROBLEM!
#2UPDATE EX-employee responds
Sat, December 05, 2009
Hi,
I have read through you problem , having worked with ocwen for two years let me help u understand the situation.first of all if incase you monthly payments are 400$ a month(lets assume that) in such a case you have 15days from the day your payment becomes due to make the full payment to avoid late charges i.e if ur date is the 1st of each month you can make payments till the 15th of the month.if not u are assesed a late charge,this is generally about 5% of you monthly mortgage payment i.e ur late charge is about 20$.even if u make a payment of 200$ which is 1/2 ur mortgage then too this will not be applied to you mortage payment till it is a full 400$.the 200$ which u paid is kept aside in a SUSPENSE ACCOUNT!.afetr the 15th the company sends u a letter stating that ur late on your payment for which it charges u 4$(CERTIFIED MAIL CHARGES).What the rep told u abt these letters continuing is correct!.
As for ur loan modification you have to show that u have disposable income to make the payments.i.e if at a lowered interst rate say your new payments is 200$ then ur financials should reflect this which means that, your total income-(Minus)Total expenses should be (Less) that 400$ which is ur current payment but more that 200$ which can be ur possible loan mod payment!.They will ask you for ur financial statements to validate what u mention on the loan mod application form,also ur expenses like car payments,insurances,taxes etc! the trick is to maintain lower expenses and higher income! as i mentioned above less that 400$ but more than 200$!!!
U had to send letter explaining ur hardship because they have to evaluate if incase u really are in need of modification! as i said evaluate ur income and expenses! if need be u can send me ur income and expoenses sheet that u sent to ocwen so that i can help u!
Thanks!
