- Report: #163319
Complaint Review: Owcen Federal Bank FSB - Orlando Florida
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Owcen Federal Bank FSB
12650 Ingenuity Drive Orlando, 32826 Florida, U.S.A.
Phone:
800-746-2936
Web:
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Owcen Federal Bank FSB Mortgage Company from HELL ripoff Orlando Florida
I refinanced my mortgage with New Century Mortgage in 1999. I was notified by New Century Mortgage in 2001 that my loan had been sold. At first ever thing was fine until I got behind on my payments.
The first run in I had with Ocwen was in 2001 and I had to contact a foreclosure specialist to take care my foreclosure proceedings because the loan resolution specialist return my payments and refused to take my calls. Clearly a person unhappy in her position.
I was then put on a payment arrangement with high forebearance payment and my fico score was destroyed. From 2001 to 2005 Ocwen has threatened to foreclosure on my property more than 3 times. I have been making payments now in a timely manner and my fico score still remains in the high 500s. But I have been charged outragous legal fees, late payments, and interest since 2001.
Currently, I am still under a forebearance payment plan making high payments and fighting tooth and nail with Ocwen to update my credit reports. Listen up! We have to fight them on this because they are making money of hard working people that have jobs (if your job has not been sent overseas like my was).
Kyndall
Gastonia, North Carolina
U.S.A.
The first run in I had with Ocwen was in 2001 and I had to contact a foreclosure specialist to take care my foreclosure proceedings because the loan resolution specialist return my payments and refused to take my calls. Clearly a person unhappy in her position.
I was then put on a payment arrangement with high forebearance payment and my fico score was destroyed. From 2001 to 2005 Ocwen has threatened to foreclosure on my property more than 3 times. I have been making payments now in a timely manner and my fico score still remains in the high 500s. But I have been charged outragous legal fees, late payments, and interest since 2001.
Currently, I am still under a forebearance payment plan making high payments and fighting tooth and nail with Ocwen to update my credit reports. Listen up! We have to fight them on this because they are making money of hard working people that have jobs (if your job has not been sent overseas like my was).
Kyndall
Gastonia, North Carolina
U.S.A.
2 Updates & Rebuttals
Kyndall
Gastonia,North Carolina,
U.S.A.
Ocwen,Ocwen Federal FSB,OCWEN, Ocwen Loan Servicing,Ocwen Federal, Orlando, West Palm Beach Florida FLA
#2Author of original report
Fri, December 30, 2005
Does anyone have any recent updates on the pending class action suit? If you do please let me know. Thanks in advance!
Paul
Lake Forest,California,
U.S.A.
Many left in the lurch
#3UPDATE EX-employee responds
Sun, November 06, 2005
When New Century was forced to sell its entire loan portfolio in order to stay afloat, many people suffered the frustration of dealing with OCWEN Financial. However, there is a cautionary tale here, and Kyndall was honest enough to admit it: "Everything was fine until I got behind on my payments." Many tales of torment about any mortgage troubles are begun with "When I got behind on my payments." Not many will admit it. A forbearance plan can be a tough road to follow. It involves making your monthly mortgage payment, plus extra to repay the delinquent amount over time. If you're having trouble making the payments as specified in your forbearance agreement, perhaps you can re-negotiate the terms to something more manageable, although a bit longer. Trust me: OCWEN would prefer to renegotiate the plan rather than go to foreclosure. Why did OCWEN refuse to take your payments? I would ask how much you were offering to pay. A mortgage banker will not accept partial payments. Additionally, when a loan is delinquent, a mortgage banker will only accept enough money to pay off all past due payments, or at least enough to get you within one month past due. For example: if you pay $1000 a month, and were past due for 5 months, OCWEN will probably only accept $4000, maybe $3000. Anything else jeopardizes their legal position to "accelerate the terms of the Note." TRADE SECRET for people suffering this trouble in the future -- before you start a repayment plan, see what you can negotiate! Sometimes you can convince the Loss Mitigation Specialist to waive some fees upon the successful completion of the forbearance plan. It's something.
