From: http://www.ripoffreport.com/reports/0/308/RipOff0308251.htm
Just like many of the reports here I have been totally scammed by Ocwen. I signed a mortgage for my new home and before the second payment I received a letter from Ocwen stating that they where now servicing it. I didn't know anything about them at the time but found out a LOT about them as the months went on.I got behind on 1 payment due to my automatic banking. My weekly wire transfer into my banking account was late and missed the day they tried to do the withdraw for my mortgage. What was bad on my part is I had become so use to everything being automatic that I didn't pay attention to the account. I started to receive letters from Ocwen stating I was late Plus increased payment amounts. Not just late fees but other charges. I covered the payment over the phone with one of the reps. and Thought nothing of it.About 4 months later I started to receive calls from them.. 5 to 6 times a day. Telling me that I was late on my mortgage and that I was going to lose my home etc. The first couple times I tried to explain to them that I was caught up, that I had made the payments with one of the reps, turns out that they had put me into some sort of 'forbearance' program. I told them that the rep had mentions something about that but I never agreed to that. After fighting with them for over a month about it, while they where claiming that I suddenly owed over 4 thousand to get caught up, due to the forbearance program I ask them to send my ANYTHING they had in writing with me agreeing to that.Meanwhile, I started to shop around for a new loan. Thats when I found out that Ocwen had been reporting my late on my credit for (at that time) over 6 months. Due to this so called forbearance program. They dropped my credit score over 300 points and now I can't refinance. On top of all this they have raise my interest from my starting 7% to over 12%! I'm not paying it. In looking at the records they have only put 125 dollars toward the equity in my home in the over 2 years of payments I made. So as it stands now, I actually owe them more than the original loan after making 2 years of payments.I'm done. I quit making any payments at this point and they can have the house. but they are going to have to fight in court for the entire time it takes to legally get me out. In Kentucky that will take them about 2 years. In the mean time I'm banking what would have been my mortgage payment so that when the day does come I have money to get something else. On a side note, even after the 2 years it takes to foreclose on a home in Kentucky, they STILL can not sell the house for another year after getting it, because I have the legal right to buy back the house for the foreclosure rate. So this is going to be at least a 3 year ordeal for them.CoryCovington, KentuckyU.S.A.
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