Ocwen Loan Sevicing submitted an agreement to me that stipulated that I had to sign away all of my rights of recourse in order to obtain a'Loan Modification.'The legalese included that the agreement would affect 'your rights' and that signing the papers I acknowledged that I had the opportunity to obtain,'independent legal counsel concerning this Agreement.'This agreement for the loan modification if approved by Ocwen ,'will bind and inure to your heirs,executors,administrators, and assigns.' Why are they(Ocwen) adding this to force borrowers to submit to bogus loan modification and forebearance programs that only lead to foreclosure.These are bait and switch tactics that help fuel the mortgage crisis. Criminal is the only way to describe their actions.Any legal agencies out there that are willing to assist I would appreciate your assistance. This is an update on a previous filing March 2008.
Ripoff consumerMoreno Valley,
CaliforniaU.S.A.
From: http://www.ripoffreport.com/reports/0/335/RipOff0335325.htm
Subscribe to:
Post Comments (Atom)
2 comments:
Same thing here, plus they sent it to me on a saturday am and needed to be signed and money wired to them that same day. I tried to call and only got a voice mail. No call back from Ocwen. I will be seeing my Attorney monday. I have taken name and amounts out, the rest is as I got it. This is what it says:
"Pursuant to our mutual agreement to modify your Note and Mortgage and in consideration of the promises, conditions, and terms set forth below, the parties agree as follows:
1. You agree that the new principal balance due under your modified Note and the Mortgage will be ----------. Upon modification, your Note will become contractually current; however fees and charges that were not included in this principal balance will be your responsibility.
2. You promise to make an initial down payment in the amount of ------ on or before -----, after which you will commence payments of principal and interest in the amount of ----- on July 1, 2008 and continuing on the 1st day of each succeeding month until all amounts owed under the Note and Modification are paid in full.
3. Any payments due for taxes and insurance will be your responsibility in addition to the payments of principal and interest required under the terms of this modification.
4. Upon Modification, the annual rate of interest charged on the unpaid principal balance of your loan will be reduced to 6.00%. This rate will remain in effect until the maturity date of your loan.
5. You will comply with all other covenants, agreements, and requirements of your Mortgage, including without limitation, the covenants and agreements to make all payments of taxes, insurance premiums, assessments, escrow items, impounds, and all other payments that you are obligated to make under the Mortgage, except as otherwise provided herein.
6. You understand and agree that:
(a) All the rights and remedies, stipulations, and conditions contained in your Mortgage relating to default in the making of payments under the Mortgage will also apply to default in the making of the modified payments hereunder.
(b) All covenants, agreements, stipulations, and conditions in your Note and Mortgage will remain in full force and effect, except as herein modified, and none of the your obligations or liabilities under your Note and Mortgage will be diminished or released by any provisions hereof, nor will this Agreement in any way impair, diminish, or affect any of Ocwen’s rights under or remedies on your Note and Mortgage, whether such rights or remedies arise thereunder or by operation of law. Also, all rights of recourse to which Ocwen is presently entitled against any property or any other persons in any way obligated for, or liable on, your Note and Mortgage are expressly reserved by Ocwen.
(c) Any expenses incurred in connection with the servicing of your loan, but not yet charged to your account as of the date of this Agreement, may be charged to your account after the date of this Agreement.
(d) You have no right of set-off or counterclaim, or any defense to the obligations of your Note or Mortgage.
(e) Nothing in this Agreement will be understood or construed to be a satisfaction or release in whole or in part of your Note and Mortgage.
(f) You agree to make and execute such other documents or papers as may be necessary or required to effectuate the terms and conditions of this Agreement which, if approved and accepted by Ocwen, will bind and inure to your heirs, executors, administrators, and assigns.
(g) You understand that this agreement is legally binding and that it affects your rights. You confirm that you have had the opportunity to obtain, independent legal counsel concerning this Agreement and are signing this Agreement voluntarily and with full understanding of its contents and meaning.
7. BY EXECUTING THIS MODIFICATION, YOU FOREVER IRREVOCABLY WAIVE AND RELINQUISH ANY CLAIMS, ACTIONS OR CAUSES OF ACTION, STATUTE OF LIMITATIONS OR OTHER DEFENSES, COUNTERCLAIMS OR SETOFFS OF ANY KIND WHICH EXIST AS OF THE DATE OF THIS MODIFICATION, WHETHER KNOWN OR UNKNOWN, WHICH YOU MAY NOW OR HEREAFTER ASSERT IN CONNECTION WITH THE MAKING, CLOSING, ADMINISTRATION, COLLECTION OR THE ENFORCEMENT BY OCWEN OF THE LOAN DOCUMENTS, THIS MODIFICATION OR ANY OTHER RELATED AGREEMENTS.
8. BY EXECUTING THIS MODIFICATION, YOU IRREVOCABLY WAIVE ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS MODIFICATION AND ANY RELATED AGREEMENTS OR DOCUMENTS OR TRANSACTIONS CONTEMPLATED IN THIS MODIFICATION."
Of course these bastards “Ocwen” want you to sign away your rights, they know if you get an attorney to take them on they will loose! Too bad there aren’t some attorneys out there willing to WORK at a Class Action Law Suit!!! Attorneys just want a quick settlement out of court, and they know Ocwen isn’t going to do that. Are there any Attorneys out there with the resources and balls big enough to take on Ocwen? Step up Please!
Post a Comment