- Report: #455922
Complaint Review: Ocwen - P.O. Box 785057 Florida
-
Author Confirmed
Why?
Ocwen
www.ocwen.com P.O. Box 785057, 32878-5057 Florida, U.S.A.
Phone:
800-746-2936
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Ocwen Loan Modification The promise of a loan modification...unfulfilled Florida
*Consumer Comment: OCWEN's Modification process is a joke
*Author of original report: Ocwen Loan Modification...still a passenger on the B^!!$#!% Train...
*Author of original report: Ocwen Loan Modification...still a passenger on the B^!!$#!% Train...
*Author of original report: Ocwen Loan Modification...still a passenger on the B^!!$#!% Train...
In September of last year, my husband and I could not make our mortgage payment, due to a reduction of income. Because of the slowing economy my husband and I had our hours reduced and since our jobs are in restaurants we were hit with an additional reduction of income because less sales, equals less tips. I called Ocwen and they said they could offer me a forebearance plan, which would help my immediate situation if I had extra money to pay down my missed payment ( which I did not). I kept pushing for a modification and finally and almost 3 hours of time talking with 'customer service representatives' I got someone to help me complete a modification.
During this period of time ( 12/2008), modification could be set up via a telephone interview. So I provided the ocwen representative with my income and an itemized list of my monthly expenses. The agent did some calculations and informed me that Ocwen could offer a modification and would reduce my monthly payment by 200.00 per month, which left me with an excess of about 100.00 at the end of the month. I explained that the modification was not feasible, because each month there are incidental costs, like books for school, etc and that I could not agree to a modification that was not practical. Especially, since this modification was created by reducing my interest rate by 0.4%.
I then waited a few days and called back. The agent I spoke with next said to fill out a budget sheet provided by ocewn and send the paper back in. I did this and was offered a better modification agreement, which reduced my payment by $430.00 per month. I then decided to go forward with the modification, so I called Ocwen. I was told that due to the changes by their company I would need to fill out a new modification agreement and send it in. I did just that and waited, after about 10 days I called and was told to wait a little longer. I called again and was told there was additional information I would need to send. I did what they asked and waited...about ten days. I called Ocwen and was informed because of the new regulations set by the Obama administration I would need to complete a new application and send it back in. So, once again I filled out the application and faxed it in with the supporting documents they required ( tax return, bank statements, paystubs, modification request).
Once again I waited and was sent an e mail stating that my package was incomplete and that I needed to send in the checklist they had provided to me with the package. I sent the paper in and waited. I called after about one full week and was told that I did not send a complete package, again. It was then I found out I needed to re send the entire package, not just the missing document. So once again I sent the fax, this time with all the papers. I then waited another week, and received an e mail. To my surprise they wanted further proof of expenses ( copies of my phone and utility bill) and income (they wanted all my schedules from my tax and letters from my boss stating I still receive tips). SO once again I sent them a fax, but this time I made sure it included our most recent pay stubs, bank statements, letters from employers, Fed. tax return, utility bill, gas (utility) bill, phone bill, in addition to the hardship letter and modification request letter, affidavit, and tax return release form. I also included my 2 years prior tax returns, W-2's, and my state tax return. I figured maybe I should beat them to the punch and give them everything else they might possibly want.
So now 21 days later...nothing! I call and can't even get a live person on the phone, only the voicemail of their agents in India. I have called everyday for the last 11 days each time leaving a voicemail and have yet to hear anything.
This whole situation has been amazing, at first I did not worry, because Ocwen claimed that if you are in the modification process and you meet the guidelines for a modification and they have all the requested documents, they will not proceed with foreclosure; however, after each submission Ocwen contacted me and informed me that additional information was required ( so my application was incomplete). And the best part about the call center now is when you call they have updated information about your account, and their recording expresses that "you" ( mortgagee) should avoid calling, since this only delays the modification process, but if you allow some time to lapse and don't call when you do call in you get a different pre recorded message which states that they have been trying to contact you and have had no success and you should speak to a representative.
I have been waiting for about 6 months to start paying on my mortgage and moving forward. I realize some people don't care about keeping their home or repaying their debt, but that is not me. I want to keep my home and I want to pay for my home and resolve my debt. I know now that to take care of this situation, stop foreclosure and save my home I am going to have to hire an attorney.
I hope this information will provide some people with some valuable information and will keep them from making the mistakes I made.
Libragirl007
Riverside, California
U.S.A.
During this period of time ( 12/2008), modification could be set up via a telephone interview. So I provided the ocwen representative with my income and an itemized list of my monthly expenses. The agent did some calculations and informed me that Ocwen could offer a modification and would reduce my monthly payment by 200.00 per month, which left me with an excess of about 100.00 at the end of the month. I explained that the modification was not feasible, because each month there are incidental costs, like books for school, etc and that I could not agree to a modification that was not practical. Especially, since this modification was created by reducing my interest rate by 0.4%.
I then waited a few days and called back. The agent I spoke with next said to fill out a budget sheet provided by ocewn and send the paper back in. I did this and was offered a better modification agreement, which reduced my payment by $430.00 per month. I then decided to go forward with the modification, so I called Ocwen. I was told that due to the changes by their company I would need to fill out a new modification agreement and send it in. I did just that and waited, after about 10 days I called and was told to wait a little longer. I called again and was told there was additional information I would need to send. I did what they asked and waited...about ten days. I called Ocwen and was informed because of the new regulations set by the Obama administration I would need to complete a new application and send it back in. So, once again I filled out the application and faxed it in with the supporting documents they required ( tax return, bank statements, paystubs, modification request).
Once again I waited and was sent an e mail stating that my package was incomplete and that I needed to send in the checklist they had provided to me with the package. I sent the paper in and waited. I called after about one full week and was told that I did not send a complete package, again. It was then I found out I needed to re send the entire package, not just the missing document. So once again I sent the fax, this time with all the papers. I then waited another week, and received an e mail. To my surprise they wanted further proof of expenses ( copies of my phone and utility bill) and income (they wanted all my schedules from my tax and letters from my boss stating I still receive tips). SO once again I sent them a fax, but this time I made sure it included our most recent pay stubs, bank statements, letters from employers, Fed. tax return, utility bill, gas (utility) bill, phone bill, in addition to the hardship letter and modification request letter, affidavit, and tax return release form. I also included my 2 years prior tax returns, W-2's, and my state tax return. I figured maybe I should beat them to the punch and give them everything else they might possibly want.
So now 21 days later...nothing! I call and can't even get a live person on the phone, only the voicemail of their agents in India. I have called everyday for the last 11 days each time leaving a voicemail and have yet to hear anything.
This whole situation has been amazing, at first I did not worry, because Ocwen claimed that if you are in the modification process and you meet the guidelines for a modification and they have all the requested documents, they will not proceed with foreclosure; however, after each submission Ocwen contacted me and informed me that additional information was required ( so my application was incomplete). And the best part about the call center now is when you call they have updated information about your account, and their recording expresses that "you" ( mortgagee) should avoid calling, since this only delays the modification process, but if you allow some time to lapse and don't call when you do call in you get a different pre recorded message which states that they have been trying to contact you and have had no success and you should speak to a representative.
I have been waiting for about 6 months to start paying on my mortgage and moving forward. I realize some people don't care about keeping their home or repaying their debt, but that is not me. I want to keep my home and I want to pay for my home and resolve my debt. I know now that to take care of this situation, stop foreclosure and save my home I am going to have to hire an attorney.
I hope this information will provide some people with some valuable information and will keep them from making the mistakes I made.
Libragirl007
Riverside, California
U.S.A.
4 Updates & Rebuttals
Callecoco
Inverness,Florida,
U.S.A.
OCWEN's Modification process is a joke
#2Consumer Comment
Tue, October 06, 2009
I agree with everything you said because I have experiecned almost the same with them. In 2007 I filed a modification packet after not hearing anything for a while I called and was told that I would have to change some of the information for it to be accepted. I changed the info they told me to and again waited to hear back. After about 2 weeks I called and was told I was denied. It was a waste of time.
In the beginning of 2009 I could no longer make the payments, I was upside down in the mortgage and couldn't refinance. I wanted to short sell the home and was told I would have to be behind in order to receive a packet. I then stopped paying and told them to send a packet. They refused to work with the real estate agent and I decided to let the house go into foreclosure.
After numerous phone calls from them and them saying they could remodify if I sent in a packet, I told them I was not filling out anything since they wasted my time before and the info was the same but now had an additional 400 in student loans. They sent me a streamlined modification that wasn't the best but at least it dropped the payments and interest.
I followed all the instructions of making the initial 3 payments, even though they first tried to tell me they didn't have the signed agreement that was sent in with the first. I informed them I sent the payment and agreement in the same envelope and had delivery confirmation and if they didn't find the signed agreement I would cancel the check. Amazing they found it.
I then made the other 2 payments and was then hit with a bill today that they wanted an additional 2600 with my new mortgage payment of 788.33 bringing the total of over 3k by Dec 1st. I called and asked why these additional fees were not added to the additional 10k they added to the principal already and no where in the modification did it mention having to pay these fees and I was unable to do so.
Basically it comes down to I told them exactly what I thought about their unethical practices and I will make them put those fees to good use and they can now have the house and will not get another payment from me.
I tried to do the right thing and abided by the terms of the agreement and they did not abide by it and decided to be decieptful.
Libragirl007
Riverside,California,
U.S.A.
Ocwen Loan Modification...still a passenger on the B^!!$#!% Train...
#3Author of original report
Tue, July 28, 2009
So some time has passed since my last posting and I am still trying to work out a loan modification. I was assigned a "Loan Specialist" and my foreclosure date was postponed ( twice) and I felt like there may be some hope after all... My loan specialist had me submit all the standard documents required by the federal gov't for a loan modification; however, I had to submit letters from my employers regarding issues such as overtime pay and that my tip income would continue...tedious and strange, but I did what was asked of me. As of today I have not received an official denial letter re: Federal Loan Modification, but have been told over the phone that my application has been denied. I have been offered to do a modification over the phone, even though 2 months ago I was told this was no longer allowed! So I did the deed and gave my financial info and household budgeted expenses and came up with a reasonable plan...but since my home was slated to be auctioned the next day the agent would not yet submit my request until his supervisor made a decision on whether to proceed with the auction, or not. So Ocwen is not delaying the auction date and next week I am supposed to have my home auctioned...wow after all this time and work, whic I think was all in vain...if I can shed some light on this for anyone who is in the same situation, I hope this will help you. Here is a list of some special things about OCWEN to keep in mind. 1. If you send in paperwork for a loan modification save yourself some time and pain and be sure to write your name and loan number on every document sent in and instead of faxing the document spend the cash and overnight the documents with a delivery receipt. 2. Don't beleive any agent who says OCWEN is not pursuing foreclosure while you are seeking a modification...only beleive what the attorneys handling the foreclosure case says. And always push for the agent you speak with to verify this information for you with the attorneys. 3. If you complete a non governmental loan modification over the phone, be sure your expenses are just high enough. Since the amount Ocwen will calculate for our new loan payment plus your monthly income should only leave you with about $50-$100 of excess income each month for incidental expenses. This is not a very sound calculation but it is what OCWEN does. 4. If you can afford an attorney, hire one they will save you so much time, energy and anxiety. 5. Remember, OCWEN is one of the worst loan servicing companies to date, they are unethical and do not have a heart...whats good for their business is good for their business, everyone and everything else are just means to an end. I have one last week and am going to do my best to save my home, but am prepared for the worst, I hope this information will at least help others who are in a similar situation.
Libragirl007
Riverside,California,
U.S.A.
Ocwen Loan Modification...still a passenger on the B^!!$#!% Train...
#4Author of original report
Tue, July 28, 2009
So some time has passed since my last posting and I am still trying to work out a loan modification. I was assigned a "Loan Specialist" and my foreclosure date was postponed ( twice) and I felt like there may be some hope after all... My loan specialist had me submit all the standard documents required by the federal gov't for a loan modification; however, I had to submit letters from my employers regarding issues such as overtime pay and that my tip income would continue...tedious and strange, but I did what was asked of me. As of today I have not received an official denial letter re: Federal Loan Modification, but have been told over the phone that my application has been denied. I have been offered to do a modification over the phone, even though 2 months ago I was told this was no longer allowed! So I did the deed and gave my financial info and household budgeted expenses and came up with a reasonable plan...but since my home was slated to be auctioned the next day the agent would not yet submit my request until his supervisor made a decision on whether to proceed with the auction, or not. So Ocwen is not delaying the auction date and next week I am supposed to have my home auctioned...wow after all this time and work, whic I think was all in vain...if I can shed some light on this for anyone who is in the same situation, I hope this will help you. Here is a list of some special things about OCWEN to keep in mind. 1. If you send in paperwork for a loan modification save yourself some time and pain and be sure to write your name and loan number on every document sent in and instead of faxing the document spend the cash and overnight the documents with a delivery receipt. 2. Don't beleive any agent who says OCWEN is not pursuing foreclosure while you are seeking a modification...only beleive what the attorneys handling the foreclosure case says. And always push for the agent you speak with to verify this information for you with the attorneys. 3. If you complete a non governmental loan modification over the phone, be sure your expenses are just high enough. Since the amount Ocwen will calculate for our new loan payment plus your monthly income should only leave you with about $50-$100 of excess income each month for incidental expenses. This is not a very sound calculation but it is what OCWEN does. 4. If you can afford an attorney, hire one they will save you so much time, energy and anxiety. 5. Remember, OCWEN is one of the worst loan servicing companies to date, they are unethical and do not have a heart...whats good for their business is good for their business, everyone and everything else are just means to an end. I have one last week and am going to do my best to save my home, but am prepared for the worst, I hope this information will at least help others who are in a similar situation.
Libragirl007
Riverside,California,
U.S.A.
Ocwen Loan Modification...still a passenger on the B^!!$#!% Train...
#5Author of original report
Tue, July 28, 2009
So some time has passed since my last posting and I am still trying to work out a loan modification. I was assigned a "Loan Specialist" and my foreclosure date was postponed ( twice) and I felt like there may be some hope after all... My loan specialist had me submit all the standard documents required by the federal gov't for a loan modification; however, I had to submit letters from my employers regarding issues such as overtime pay and that my tip income would continue...tedious and strange, but I did what was asked of me. As of today I have not received an official denial letter re: Federal Loan Modification, but have been told over the phone that my application has been denied. I have been offered to do a modification over the phone, even though 2 months ago I was told this was no longer allowed! So I did the deed and gave my financial info and household budgeted expenses and came up with a reasonable plan...but since my home was slated to be auctioned the next day the agent would not yet submit my request until his supervisor made a decision on whether to proceed with the auction, or not. So Ocwen is not delaying the auction date and next week I am supposed to have my home auctioned...wow after all this time and work, whic I think was all in vain...if I can shed some light on this for anyone who is in the same situation, I hope this will help you. Here is a list of some special things about OCWEN to keep in mind. 1. If you send in paperwork for a loan modification save yourself some time and pain and be sure to write your name and loan number on every document sent in and instead of faxing the document spend the cash and overnight the documents with a delivery receipt. 2. Don't beleive any agent who says OCWEN is not pursuing foreclosure while you are seeking a modification...only beleive what the attorneys handling the foreclosure case says. And always push for the agent you speak with to verify this information for you with the attorneys. 3. If you complete a non governmental loan modification over the phone, be sure your expenses are just high enough. Since the amount Ocwen will calculate for our new loan payment plus your monthly income should only leave you with about $50-$100 of excess income each month for incidental expenses. This is not a very sound calculation but it is what OCWEN does. 4. If you can afford an attorney, hire one they will save you so much time, energy and anxiety. 5. Remember, OCWEN is one of the worst loan servicing companies to date, they are unethical and do not have a heart...whats good for their business is good for their business, everyone and everything else are just means to an end. I have one last week and am going to do my best to save my home, but am prepared for the worst, I hope this information will at least help others who are in a similar situation.
