From: http://www.ripoffreport.com/reports/0/322/RipOff0322171.htm
(Copy of letter that I sent to them regarding the problem. I have all the documents that are listed in the letter and can fax them to you for further documentation)March 9, 2008Ocwen Financial CorporationAttn P. O. Box 785061Orlando, FL 32878-5061FAX: (866) 771-5152RE: 70084504To Whom It May Concern:On January 18, 2008, I received a letter from Ocwen offering me a Loan Modification Agreement so that I could bring my account current and out of forbearance. I read through the agreement, signed it on January 23, 2008 and faxed it to Ocwen on January 24, 2008. To date I have not received any notification or billing stating that this agreement was received.On March 7, 2008, I called the Customer Support Hotline to inquire about my account. At 12:36 pm I spoke with Kash who told me that she had no record of this agreement having been received by Ocwen. Kash put me on hold from 12:49 pm until 1:04 pm and then I spoke with Curtis. He told me that I had to speak to someone in the LRC Department. Curtis transferred me to the LRC and the phone rang once and then I was disconnected. I called back at 1:10 pm and spoke with Shavonne. She also said I needed to speak with someone in the LRC Department and she transferred me to that department. I was on hold from 1:16 pm until 1:30 pm until a Mr. Holland picked up the phone. He took my loan information and then put me on hold. Within one minute, Prasanna then picked up the phone. He stated to me that there was no record of the agreement and that I was to have faxed it in within the 10 days required. I explained to him that is what I did and that I had a fax confirmation to support that. He stated that this did not matter and he would be sending out a new loan modification packet for me to fill out again. I explained to him that at the time of the signing of the loan modification agreement, I was told that I had to pay Februarys payment of $1210 plus $161 in fees. Then starting in March, I would receive a new bill with the correct payment amount along with escrow amount that was needed. I did not receive that information, so I sent my regular forbearance amount of $1210. Prasanna now tells me that since I did not send in the $1371, my $1210 was being held in suspense until I made up the difference. So, my question is this: What is my monthly payment amount? What is my escrow amount? Where is the loan modification agreement that I faxed to you? I know that my foreclosure has been cancelled with the court as I have a court document stating that. I am tired of the run around that I have been getting from Ocwen for the last year. I have abided by the agreed upon forbearance amount, I signed and faxed the loan modification agreement, I call and try to straighten things out and then I have to write to the Ombudsman to get a clear picture of what the problem is and how will it be resolved. Attached to this fax, you will find a copy of the letters that I have received the loan modification that I signed, a copy of the fax cover sheet as well as all my handwritten notes. I expect this to be resolved immediately and my payment of $1210 for March to be applied to my account accordingly, WITHOUT ANY NEW FEES ADDED! If I do not receive a response within 10 days, I will be contacting an attorney and taking Ocwen to court to have this matter resolved by a Judge as I do not feel that Ocwen has my best interest in mind at any point in time within this last year. I have abided by all of Ocwens requests and requirements. At what point does Ocwen admit that they have made mistakes and correct my account?I expect an answer ASAP.
PamelaCincinnati, Ohio U.S.A.
Saturday, March 29, 2008
Thursday, March 27, 2008
OCWEN They screwed us big time, and no one at their company cares. Carol Stream Illinois
From: http://www.ripoffreport.com/reports/0/304/RipOff0304687.htm
We had bought our home 2 years ago and guess who the lender was OCWEN, well we were exicted to be home owners. The first year was fine, no problemes at all, other then the constant calling when it cam past the due date, but yet you had your grace period.Well Christmas of the next year we mad that payment late, that is where it all went down hill. We had gotten multiple foreclosure letters in the mail and phone calls. My husband and being new at this called them up to see what the problem was. Oh my god they said that we need to pay 1,200.00 to get caugt up and they can arrange a forebearance plan for us to get caught up. We first had to send them 436.oo to start the plan. Well we did.We then got these papers in that said we would be on it for 6 months and have to pay 600.00 wchich is 200 more then normal. So we did that for the 6 months and I then called them up to see if the payment would be back to normal?????Guess what, I think not they said we are not caught up yet, we would have to extend it for 4 months yet..The whole time I am looking at our monthly statements and there are all of these charges that are Misc, ask them what they are and they don't have a clue.Where did all that extra money we were paying go to..They don't know!!!They reported us as being 90 days late even though we were not..They SUCK SO bad, when you go to the web site to leave comments and stuff, you get a crappy computer generated respones sent back to you..We have tried to refinance but can't because of them, they finally sent us a letter stating that we are no longer in forbearance, but on my statments it said that payments have changed and could reflect on your forebearnace plan.WHAT THE HELL DOES THAT MEAN????idiots complete and udder axxholes is the proper word.If anyone has any info on refi please let me know, Iwould be so grateful....Boop Freeland, Pennsylvania U.S.A.
We had bought our home 2 years ago and guess who the lender was OCWEN, well we were exicted to be home owners. The first year was fine, no problemes at all, other then the constant calling when it cam past the due date, but yet you had your grace period.Well Christmas of the next year we mad that payment late, that is where it all went down hill. We had gotten multiple foreclosure letters in the mail and phone calls. My husband and being new at this called them up to see what the problem was. Oh my god they said that we need to pay 1,200.00 to get caugt up and they can arrange a forebearance plan for us to get caught up. We first had to send them 436.oo to start the plan. Well we did.We then got these papers in that said we would be on it for 6 months and have to pay 600.00 wchich is 200 more then normal. So we did that for the 6 months and I then called them up to see if the payment would be back to normal?????Guess what, I think not they said we are not caught up yet, we would have to extend it for 4 months yet..The whole time I am looking at our monthly statements and there are all of these charges that are Misc, ask them what they are and they don't have a clue.Where did all that extra money we were paying go to..They don't know!!!They reported us as being 90 days late even though we were not..They SUCK SO bad, when you go to the web site to leave comments and stuff, you get a crappy computer generated respones sent back to you..We have tried to refinance but can't because of them, they finally sent us a letter stating that we are no longer in forbearance, but on my statments it said that payments have changed and could reflect on your forebearnace plan.WHAT THE HELL DOES THAT MEAN????idiots complete and udder axxholes is the proper word.If anyone has any info on refi please let me know, Iwould be so grateful....Boop Freeland, Pennsylvania U.S.A.
Ocwen Loan Servicing LLC As Servicing Agent For Lasalle Bank National Association
Ocwen Loan Servicing LLC As Servicing Agent For Lasalle Bank National Association. As Trustee For The Registered Holders Of The Structured Asset Investment Loan Trust,. Payments made, Still going to forclose, No record of Payments from Illinois but have bank canceled checks. Orlando, Florida Carol Stream Illinois
From: http://www.ripoffreport.com/reports/0/321/RipOff0321714.htm
Apparently there is an big error in Ocwen Loan Servicing accounting reports from one unit to another. Ocwen has agencies in Illinois, Texas, California and Florida. Ther may be more agencies but I have not located them as of yet.Ocwen billing statements have at least 7 different addresses on them, Orlando Florida, Carol Stream Illinois, Springfield Ohio, and Fort Worth Texas.For Bankruptcies payment are supposed to be mailed to Ocwen Loan Servicing, LLC, P.O. Box 785053, Orlando, Fl 32878-5053. This is where our payments have been sent however the Fort Worth Texas agency is the one filig the Motion for Relief of Stay with Lawyers based in Houston, Texas.Payments have been made on our home, however for some reason our payments have not been posted by Ocwen to all of its agencies but are reflected on our monthly statement.We have made payments in the past say in April that never posted as received until March a full month later with Late fees and interest added to our account. Each time I get the canceld check is has a stamp on it from Ocwen Lock box hold, I have no idea what that is. This has happened 4 times over the last 3 years.I have canceled checks from our bank that show payments for the months of November & December 2007, and January 2008, February 2008 and March 2008. Our current payment statement says there is only a payment due of $1500.00 however Ocwen has filed a Motion for Relief of stay stating no payments were recieved for the months I have mentioned and have a Court Date of April 10, 2008 has been set.I have mailed copies of my statements, canceled checks and a response letter to Ocwen, its attorneys my attorney and the Bankruptcy Trustee and have gotten No responses from anyone. Even my attorney has not return my phone calls for some reson.We are and have been in bankruptcy since 2003 and have met every requirement of Chapter 13. We have never missed a payment and it is scheduled to finish in November 2008.
RichardWeatherford,
Texas
U.S.A.
From: http://www.ripoffreport.com/reports/0/321/RipOff0321714.htm
Apparently there is an big error in Ocwen Loan Servicing accounting reports from one unit to another. Ocwen has agencies in Illinois, Texas, California and Florida. Ther may be more agencies but I have not located them as of yet.Ocwen billing statements have at least 7 different addresses on them, Orlando Florida, Carol Stream Illinois, Springfield Ohio, and Fort Worth Texas.For Bankruptcies payment are supposed to be mailed to Ocwen Loan Servicing, LLC, P.O. Box 785053, Orlando, Fl 32878-5053. This is where our payments have been sent however the Fort Worth Texas agency is the one filig the Motion for Relief of Stay with Lawyers based in Houston, Texas.Payments have been made on our home, however for some reason our payments have not been posted by Ocwen to all of its agencies but are reflected on our monthly statement.We have made payments in the past say in April that never posted as received until March a full month later with Late fees and interest added to our account. Each time I get the canceld check is has a stamp on it from Ocwen Lock box hold, I have no idea what that is. This has happened 4 times over the last 3 years.I have canceled checks from our bank that show payments for the months of November & December 2007, and January 2008, February 2008 and March 2008. Our current payment statement says there is only a payment due of $1500.00 however Ocwen has filed a Motion for Relief of stay stating no payments were recieved for the months I have mentioned and have a Court Date of April 10, 2008 has been set.I have mailed copies of my statements, canceled checks and a response letter to Ocwen, its attorneys my attorney and the Bankruptcy Trustee and have gotten No responses from anyone. Even my attorney has not return my phone calls for some reson.We are and have been in bankruptcy since 2003 and have met every requirement of Chapter 13. We have never missed a payment and it is scheduled to finish in November 2008.
RichardWeatherford,
Texas
U.S.A.
Wednesday, March 26, 2008
OCWEN LOAN SERVICING BEING RIPPED OFF, BOGAS CHARGES, LATE FEES, MISSING PAYMENTS
From: http://www.ripoffreport.com/reports/0/321/RipOff0321295.htm
This company needs to be investigated and shut down! I have made every payment for 2 years and they say i am behind, they have missing payments, shortage of payments and i have proof all has been paid. I can not refinance because they reported on my credit as being $2000. behind in Dec 2007. There so called forbearance and loan modifications are a scam. I owe more on my loan after 5 years than what it originated for!! I have turned them into the Banking and Financing Commision and to the Credit Consumer if i get no responds from any of these people I am going to my attorney!!
Kathynorfolk,
Nebraska U.S.A.
This company needs to be investigated and shut down! I have made every payment for 2 years and they say i am behind, they have missing payments, shortage of payments and i have proof all has been paid. I can not refinance because they reported on my credit as being $2000. behind in Dec 2007. There so called forbearance and loan modifications are a scam. I owe more on my loan after 5 years than what it originated for!! I have turned them into the Banking and Financing Commision and to the Credit Consumer if i get no responds from any of these people I am going to my attorney!!
Kathynorfolk,
Nebraska U.S.A.
Sunday, March 23, 2008
Ocwen Financial Services Mortgage Company
From: http://www.ripoffreport.com/reports/0/320/RipOff0320352.htm
I lost my house January 2006 after having my loan for about 4 years. I have had a lot of financial issues due to many personal issues in my family and payments got behind. Everytime I worked out a deal with them, my payments would go up at least $200. I also did an forebearance agreements. We were in the process of trying to work out an agreement with them and I had actually been able to come up with over $7,000 to send them, and they sold the house right out from under us and basically told me oh well too bad. My parents had built the house before I was born. I grew up in the house. The company is horrible to their customers. I would love to see them out of business, so no one else has to go through what our family has gone through.
M Campbell, TennesseeU.S.A.
I lost my house January 2006 after having my loan for about 4 years. I have had a lot of financial issues due to many personal issues in my family and payments got behind. Everytime I worked out a deal with them, my payments would go up at least $200. I also did an forebearance agreements. We were in the process of trying to work out an agreement with them and I had actually been able to come up with over $7,000 to send them, and they sold the house right out from under us and basically told me oh well too bad. My parents had built the house before I was born. I grew up in the house. The company is horrible to their customers. I would love to see them out of business, so no one else has to go through what our family has gone through.
M Campbell, TennesseeU.S.A.
Ocwen Loan Servicing - Regis Lending Corp. Scam companies working together
From:http://www.ripoffreport.com/reports/0/320/RipOff0320343.htm
we was having finanical hardship when we was solicited on the phone by a man working for a company called Regis Lending Corp. he stated that we can get some money to help us out at that time because we have equity in our home and we will keep a fixed rate at 9% and also we can skip a month of payment. that sound good. so a lawyer by the name of Paul C. Williams came to my house with the paper work for my husband and i to sign,AUG. 19th 2005 but guess what ? we never got a statement from Regis to make a payment and they sold my mortgage to ocwen with a forbearance attacted to it.as you know the intrest went up to 13% now and the late fee is over $25,000.00.my home is in forclosure.something need to be done about this its not right for hard working people to have there home taken overnight by mortgage scam.
Annonymous
atlanta, Georgia
we was having finanical hardship when we was solicited on the phone by a man working for a company called Regis Lending Corp. he stated that we can get some money to help us out at that time because we have equity in our home and we will keep a fixed rate at 9% and also we can skip a month of payment. that sound good. so a lawyer by the name of Paul C. Williams came to my house with the paper work for my husband and i to sign,AUG. 19th 2005 but guess what ? we never got a statement from Regis to make a payment and they sold my mortgage to ocwen with a forbearance attacted to it.as you know the intrest went up to 13% now and the late fee is over $25,000.00.my home is in forclosure.something need to be done about this its not right for hard working people to have there home taken overnight by mortgage scam.
Annonymous
atlanta, Georgia
Thursday, March 20, 2008
Ocwen CHECK DECEPTION
From: http://www.ripoffreport.com/reports/0/319/RipOff0319587.htm
I sent a partial mortgage payment in the form of two separate checks in December of 2007. Both checks have the account number written on them for proper payment publishing (I have to mortgage accounts with this company). Instead of Ocwen posting the payments to the correct accounts they posted it to one account. I found this out after they claimed to have no record of payment for the larger mortgage. I contacted my bank which gave me documented proof that Ocwen did indeed cash both checks. The bottom line is that they refused to correct their mistake, and now I have to pay a month of back mortgage payment that was made current in January 2008. I even filed a complaint with the BBB of Florida. Ocwen claims that I should have sent in the payment stubs. I would like to know where it is written in their policy that not sending in payment stubs gives them the right to rip people off. I still have all the documents to prove my account was current. As of now I'm trying to catch up AGAIN!!!
Starr
New Castle, IndianaU.S.A.
I sent a partial mortgage payment in the form of two separate checks in December of 2007. Both checks have the account number written on them for proper payment publishing (I have to mortgage accounts with this company). Instead of Ocwen posting the payments to the correct accounts they posted it to one account. I found this out after they claimed to have no record of payment for the larger mortgage. I contacted my bank which gave me documented proof that Ocwen did indeed cash both checks. The bottom line is that they refused to correct their mistake, and now I have to pay a month of back mortgage payment that was made current in January 2008. I even filed a complaint with the BBB of Florida. Ocwen claims that I should have sent in the payment stubs. I would like to know where it is written in their policy that not sending in payment stubs gives them the right to rip people off. I still have all the documents to prove my account was current. As of now I'm trying to catch up AGAIN!!!
Starr
New Castle, IndianaU.S.A.
Tuesday, March 18, 2008
Ocwen Federal Bank Who's Watching Ocwen?
From: http://www.ripoffreport.com/reports/0/318/RipOff0318559.htm
First I would like to say I am an employee of Ocwen Federal Bank so I know what goes on inside the walls of the REO division located in Orlando Florida. In my opinion, based on my many years of employment and eye witness accounts, I believe Ocwen Federal Bank is corrupt to the core and their entire culture is based on corruption. Unfortunately Ocwen is also responsible for liquidating foreclosures for the United States Department of Veterans Affairs. During my employment at Ocwen I have witnessed a flagrant and may I add arrogant disregard for the law, the American public and Department of Veterans Affairs. Mike Moreland who is also a complete buffoon has run the VA REO Department and regular REO Dept. at Ocwen Federal Bank as his own little investment club. He and a select few of Ocwen employees have used the REO departments including VA to obtain kickbacks from real estate agents all over the country. I can only imagine that the kickbacks range in the tens of thousands if not hundreds of thousands. Those employees in charge of distributing the assets and liquidating the assets often referred to as Residential Sales Managers receives these kickbacks from participating real estate brokers all over the US by way of P.O. Boxes that have been set up to help conceal their crimes. Most of These Residential Sales Managers are not licensed real estate agents or brokers yet they illegally accept commissions from Real Estate Brokers and in return these Real Estate Brokers are provided with the bulk of the most favorable VA and regular REO listings which are the ones in the best conditions with favorable pricing. I have witnessed RSM's disclose to brokers and investors willing to pay kickbacks, the minimum bids for these properties and I have also seen RSM's ignore higher bids to sell properties to preferred brokers and their clients in return for kickbacks. I have seen RSM's use tax payer money provided by VA to fix up properties so these properties can be purchased by friends in return for kickbacks and I have witnessed RSM,s turn around and purchase these homes for themselves and later sell them for huge profits. The third party purchasers are used to conceal the fraud, however if you know what properties were sold you can follow the public records and see that the properties changed hands more than once over the course of a few months and were ultimately purchased by an RSM that works for Ocwen. Honest Real Estate Brokers who do not agree to pay illegal kickbacks will get few or no properties to sell and the ones they do get will be the hardest to sell properties because of condition, location or price. This has been going on for many years at Ocwen and when I/we first approached Mike Moreland about the suspected fraud we were told to mind our own business. We were also approached by the RSM,s committing the fraud and told to keep our mouths shut if we know what was good for us. Those of us who have already resigned from Ocwen because we were tired of the ongoing corruption and favoritism have been giving bad or no references by Ocwen when we applied for jobs elsewhere and have been blackballed from the REO business by most Major REO companies and Banks. Recently several of the employees at Ocwen were let go after enough people complained about their corruption however with the help and support of Mike Moreland and Ocwen these corrupt employees have been able to obtain secure high paying REO jobs at the very same REO companies and Banks that have participated in the blackballing of honest REO managers. . I have no doubt that Mike Moreland himself and others have profited from this illegal activity for many years. Why else would he ignore the fraud and tell us to mind our own business. Shame on VA for giving a government contract to a company that has been sued and is under investigation for so many crimes and injustices. And shame on thos REO companies and Banks that have blackballed so many good and honest REO managers and employees. Is our Government, Banks and Justice system completely indifferent to Justice or are they just for sale to the highest bidder. I will soon leave Ocwen because I am sick of lies, the deceit and the fraud. I would also like to add this note to my comments. Shame Shame Shame on our Government and the Department of Veterans Affairs for giving a government contract, paid for by hard working American taxpayers, to Ocwen Federal Bank who has an entire and very successful department I might add, dedicated to helping American corporations send American jobs overseas. Let me ask you this corporate Geniuses, what are you going to do when Americans can no longer afford your products and services because you sent all of our jobs overseas?
Anonymous orlando, FloridaU.S.A.
First I would like to say I am an employee of Ocwen Federal Bank so I know what goes on inside the walls of the REO division located in Orlando Florida. In my opinion, based on my many years of employment and eye witness accounts, I believe Ocwen Federal Bank is corrupt to the core and their entire culture is based on corruption. Unfortunately Ocwen is also responsible for liquidating foreclosures for the United States Department of Veterans Affairs. During my employment at Ocwen I have witnessed a flagrant and may I add arrogant disregard for the law, the American public and Department of Veterans Affairs. Mike Moreland who is also a complete buffoon has run the VA REO Department and regular REO Dept. at Ocwen Federal Bank as his own little investment club. He and a select few of Ocwen employees have used the REO departments including VA to obtain kickbacks from real estate agents all over the country. I can only imagine that the kickbacks range in the tens of thousands if not hundreds of thousands. Those employees in charge of distributing the assets and liquidating the assets often referred to as Residential Sales Managers receives these kickbacks from participating real estate brokers all over the US by way of P.O. Boxes that have been set up to help conceal their crimes. Most of These Residential Sales Managers are not licensed real estate agents or brokers yet they illegally accept commissions from Real Estate Brokers and in return these Real Estate Brokers are provided with the bulk of the most favorable VA and regular REO listings which are the ones in the best conditions with favorable pricing. I have witnessed RSM's disclose to brokers and investors willing to pay kickbacks, the minimum bids for these properties and I have also seen RSM's ignore higher bids to sell properties to preferred brokers and their clients in return for kickbacks. I have seen RSM's use tax payer money provided by VA to fix up properties so these properties can be purchased by friends in return for kickbacks and I have witnessed RSM,s turn around and purchase these homes for themselves and later sell them for huge profits. The third party purchasers are used to conceal the fraud, however if you know what properties were sold you can follow the public records and see that the properties changed hands more than once over the course of a few months and were ultimately purchased by an RSM that works for Ocwen. Honest Real Estate Brokers who do not agree to pay illegal kickbacks will get few or no properties to sell and the ones they do get will be the hardest to sell properties because of condition, location or price. This has been going on for many years at Ocwen and when I/we first approached Mike Moreland about the suspected fraud we were told to mind our own business. We were also approached by the RSM,s committing the fraud and told to keep our mouths shut if we know what was good for us. Those of us who have already resigned from Ocwen because we were tired of the ongoing corruption and favoritism have been giving bad or no references by Ocwen when we applied for jobs elsewhere and have been blackballed from the REO business by most Major REO companies and Banks. Recently several of the employees at Ocwen were let go after enough people complained about their corruption however with the help and support of Mike Moreland and Ocwen these corrupt employees have been able to obtain secure high paying REO jobs at the very same REO companies and Banks that have participated in the blackballing of honest REO managers. . I have no doubt that Mike Moreland himself and others have profited from this illegal activity for many years. Why else would he ignore the fraud and tell us to mind our own business. Shame on VA for giving a government contract to a company that has been sued and is under investigation for so many crimes and injustices. And shame on thos REO companies and Banks that have blackballed so many good and honest REO managers and employees. Is our Government, Banks and Justice system completely indifferent to Justice or are they just for sale to the highest bidder. I will soon leave Ocwen because I am sick of lies, the deceit and the fraud. I would also like to add this note to my comments. Shame Shame Shame on our Government and the Department of Veterans Affairs for giving a government contract, paid for by hard working American taxpayers, to Ocwen Federal Bank who has an entire and very successful department I might add, dedicated to helping American corporations send American jobs overseas. Let me ask you this corporate Geniuses, what are you going to do when Americans can no longer afford your products and services because you sent all of our jobs overseas?
Anonymous orlando, FloridaU.S.A.
Monday, March 17, 2008
NCI Ocwen Harassment.. after paying the agreement settlement amount Alanta Georgia
From: http://www.ripoffreport.com/reports/0/318/RipOff0318708.htm
I am on disablity, which means I live on a very limited income. I recently called this company {Ocwen} to try and settle the account. After explaining my situation to them and discussing possible payment arrangements.We agreed that if I paid them nine hundred dollars it would settle the account and they would close it and report the account closed to the credit agencies.I did not have that kind of money, but I was able to borrow it from someone I knew. I sent them a cashiers check priority mail. I also included a letter with the check stating it was the settlement amount agreed upon and it would close the account, meaning the account was paid in full.They called the message number I agve them a few days later and informed me they received the check, but they wanted more money. I refused to pay them any more money and told them I was going to get legal help. Now they are calling the message number I left and harassing the person who lives there. It's a crime that companies like this can hassle people and cause them so much emotional and financial distress. I hope that every lawsuit against them is won and their company is forced to close for good.
JudyTillamook, OregonU.S.A.
I am on disablity, which means I live on a very limited income. I recently called this company {Ocwen} to try and settle the account. After explaining my situation to them and discussing possible payment arrangements.We agreed that if I paid them nine hundred dollars it would settle the account and they would close it and report the account closed to the credit agencies.I did not have that kind of money, but I was able to borrow it from someone I knew. I sent them a cashiers check priority mail. I also included a letter with the check stating it was the settlement amount agreed upon and it would close the account, meaning the account was paid in full.They called the message number I agve them a few days later and informed me they received the check, but they wanted more money. I refused to pay them any more money and told them I was going to get legal help. Now they are calling the message number I left and harassing the person who lives there. It's a crime that companies like this can hassle people and cause them so much emotional and financial distress. I hope that every lawsuit against them is won and their company is forced to close for good.
JudyTillamook, OregonU.S.A.
Friday, March 14, 2008
Ocwen Loan Servicing LLC Bogus Charges, 'Funny Math', Misapplication of Payments, Offshore Customer Service
From: http://www.ripoffreport.com/reports/0/317/RipOff0317974.htm
My Ocwen loan is a 2nd mortgage. I financed my home with an 80/20 fixed rate mortage in 2005. The original loans were through Long Beach Mortgage, who then sold them to Washington Mutual. WaMu in turn sold the smaller $25,000 loan to Ocwen. I missed 2 payments to Ocwen in April and May of 2007. In June of 2007 I enrolled the loan into WaMu's Equity Accelerator Program. Ocwen has been receiving approximately $19 a month above and beyond the amount of my monthly payment since June of 2007, which has not been applied either to the past due balance or to additional principal. Instead, it is sitting in 'suspense' until such time that (so I was told today by the customer service representative in India, and her supervisor, also in India) the amount in suspense is equal to 1 monthly payment, then they will apply it to the current month's payment. While my statements reflect that I have a past due balance of approximately $450, my current payments have steadily decreased to the point where my statment reflects that my current balance for April (not including the $450 past due) is less than $50. Moreover, they are charging late fees and 'miscellaneous' fees. When I inquired regarding the miscellaneous fees, I was told that I was being charged approximately $90 for 3 'drive-by' inspections of my property that occured in August, October, and December of 2007 by 'someone in Ocwen Property Protection.' I insisted on the name of the company, written reports, etc. and stated that I would not be paying for property inspections that I neither requested nor was made aware of.Ocwen recently me sent correspondence giving me the opportunity to enter into a loan modification, whereby I would pay a certain sum of money now, and for the next 3 yrs my interest rate would drop down to almost 4%, and my payments would be almost 1/2 of what they are currently. The modification agreement states that 'you agree... that the unpaid principal balance is...' a figure in excess of the original $25,000 loan I took out when I purchased the property in 2005. Whereas my principal has dropped on my 1st mortgage (the Wamu Loan) from $101,000 to $98,000 in the last couple years, Ocwen wants me to believe that my principal on their loan has only dropped a couple of hundred dollars over the same time period; moreover, they want me to agree (in the form of a loan modification) that the 'modified' unpaid principal balance will be more than the original principal balance that I started off with. I had a real estate lawyer to read it over, and he says in addition to that, the agreement states that I waive alot of rights, including 'any expenses incurred in connection with the servicing of your loan, but not yet charged to your account...are not included in the Unpaid Principal Balance and may be charged to your account after the date of this Agreement.'Funny math, non-American customer service agents, charges for inspections which I had no knowledge of and did not consent to...I intend to write them a letter and follow up with letters to the Attorneys General of Florida and Texas. If there is a class action suit going on somewhere that I can opt in on, please contact me.
AnnaGarland, TexasU.S.A.
My Ocwen loan is a 2nd mortgage. I financed my home with an 80/20 fixed rate mortage in 2005. The original loans were through Long Beach Mortgage, who then sold them to Washington Mutual. WaMu in turn sold the smaller $25,000 loan to Ocwen. I missed 2 payments to Ocwen in April and May of 2007. In June of 2007 I enrolled the loan into WaMu's Equity Accelerator Program. Ocwen has been receiving approximately $19 a month above and beyond the amount of my monthly payment since June of 2007, which has not been applied either to the past due balance or to additional principal. Instead, it is sitting in 'suspense' until such time that (so I was told today by the customer service representative in India, and her supervisor, also in India) the amount in suspense is equal to 1 monthly payment, then they will apply it to the current month's payment. While my statements reflect that I have a past due balance of approximately $450, my current payments have steadily decreased to the point where my statment reflects that my current balance for April (not including the $450 past due) is less than $50. Moreover, they are charging late fees and 'miscellaneous' fees. When I inquired regarding the miscellaneous fees, I was told that I was being charged approximately $90 for 3 'drive-by' inspections of my property that occured in August, October, and December of 2007 by 'someone in Ocwen Property Protection.' I insisted on the name of the company, written reports, etc. and stated that I would not be paying for property inspections that I neither requested nor was made aware of.Ocwen recently me sent correspondence giving me the opportunity to enter into a loan modification, whereby I would pay a certain sum of money now, and for the next 3 yrs my interest rate would drop down to almost 4%, and my payments would be almost 1/2 of what they are currently. The modification agreement states that 'you agree... that the unpaid principal balance is...' a figure in excess of the original $25,000 loan I took out when I purchased the property in 2005. Whereas my principal has dropped on my 1st mortgage (the Wamu Loan) from $101,000 to $98,000 in the last couple years, Ocwen wants me to believe that my principal on their loan has only dropped a couple of hundred dollars over the same time period; moreover, they want me to agree (in the form of a loan modification) that the 'modified' unpaid principal balance will be more than the original principal balance that I started off with. I had a real estate lawyer to read it over, and he says in addition to that, the agreement states that I waive alot of rights, including 'any expenses incurred in connection with the servicing of your loan, but not yet charged to your account...are not included in the Unpaid Principal Balance and may be charged to your account after the date of this Agreement.'Funny math, non-American customer service agents, charges for inspections which I had no knowledge of and did not consent to...I intend to write them a letter and follow up with letters to the Attorneys General of Florida and Texas. If there is a class action suit going on somewhere that I can opt in on, please contact me.
AnnaGarland, TexasU.S.A.
Mortgage Nightmares Come True
From: http://www.cbsnews.com/stories/2003/11/28/eveningnews/main585953.shtml
(CBS) Jo Scheck's American dream -- her own home -- was lost when the mortgage payments for her Bel Air, Md., townhouse skyrocketed. "You get this letter April 3, 2000, telling you that your mortgage payments have been increased by $400 a month?" asked CBS News Correspondent Randall Pinkston. "Right," Scheck replied. For years, she'd paid $900 until her mortgage servicer, Ocwen Financial Corporation, said they hadn't collected enough for the escrow. Ocwen reduced the payments by $100, but not enough for Scheck, who was forced into foreclosure. "This is a mistake that they admitted making. They said, you know, sometimes things like this fall thru the cracks," she said. In Hartford, Conn., Kweku Hanson claims Ocwen tacked on homeowner insurance he didn't need, and never credited the thousands in extra payments he'd made on his loan. "The money went to Ocwen, that's all I know," Hanson said. "How much do you think you've lost?" asked Pinkston. "I would say at least $8,000," Hanson answered. Hanson has filed a lawsuit against Ocwen alleging unfair consumer practices. Ocwen calls his charges baseless. Hanson and Scheck are among hundreds of homeowners who have complained about Ocwen's mortgage servicing practices -- complaints that include misapplied payments, bogus late fees, and erroneous threats of foreclosure. "We've seen many consumers who have proof of their mortgage payments but nonetheless are receiving harassing phone calls, default notices and legal complaints leading to foreclosure, inappropriately," said David Berenbaum, National Consumer Reinvestment Coalition.. In a statement to CBS News, Ocwen says they "resolve delinquencies in eight out of ten cases..." that there's "no financial benefit to Ocwen in foreclosing..." Ocwen says they are "closely monitored by federal regulators." In 2000, the U. S. Department of Housing and Urban Development determined that Ocwen had violated rules and regulations on loans Ocwen serviced for HUD. Ocwen agreed to pay $50,000 of HUD's costs to settle the accusations. "There's a real need, I'll add, for better policy and regulation of our mortgage industry especially in the sub-prime marketplace," Berenbaum said. At the least, Jo Scheck wants an apology for her foreclosure -- one she believes should never have happened.
(CBS) Jo Scheck's American dream -- her own home -- was lost when the mortgage payments for her Bel Air, Md., townhouse skyrocketed. "You get this letter April 3, 2000, telling you that your mortgage payments have been increased by $400 a month?" asked CBS News Correspondent Randall Pinkston. "Right," Scheck replied. For years, she'd paid $900 until her mortgage servicer, Ocwen Financial Corporation, said they hadn't collected enough for the escrow. Ocwen reduced the payments by $100, but not enough for Scheck, who was forced into foreclosure. "This is a mistake that they admitted making. They said, you know, sometimes things like this fall thru the cracks," she said. In Hartford, Conn., Kweku Hanson claims Ocwen tacked on homeowner insurance he didn't need, and never credited the thousands in extra payments he'd made on his loan. "The money went to Ocwen, that's all I know," Hanson said. "How much do you think you've lost?" asked Pinkston. "I would say at least $8,000," Hanson answered. Hanson has filed a lawsuit against Ocwen alleging unfair consumer practices. Ocwen calls his charges baseless. Hanson and Scheck are among hundreds of homeowners who have complained about Ocwen's mortgage servicing practices -- complaints that include misapplied payments, bogus late fees, and erroneous threats of foreclosure. "We've seen many consumers who have proof of their mortgage payments but nonetheless are receiving harassing phone calls, default notices and legal complaints leading to foreclosure, inappropriately," said David Berenbaum, National Consumer Reinvestment Coalition.. In a statement to CBS News, Ocwen says they "resolve delinquencies in eight out of ten cases..." that there's "no financial benefit to Ocwen in foreclosing..." Ocwen says they are "closely monitored by federal regulators." In 2000, the U. S. Department of Housing and Urban Development determined that Ocwen had violated rules and regulations on loans Ocwen serviced for HUD. Ocwen agreed to pay $50,000 of HUD's costs to settle the accusations. "There's a real need, I'll add, for better policy and regulation of our mortgage industry especially in the sub-prime marketplace," Berenbaum said. At the least, Jo Scheck wants an apology for her foreclosure -- one she believes should never have happened.
Thursday, March 13, 2008
OCWEN LOAN SERVICING/ DELTA FUNDING/ TRI MINNESOTA MORTGAGE FRADULANT CHARGES, DECEPTIVE COMPANY THAT STEELS FROM THE DISABLED ORLANDO/ APPLE VALLEY/
OCWEN LOAN SERVICING/ DELTA FUNDING/ TRI MINNESOTA MORTGAGE FRADULANT CHARGES, DECEPTIVE COMPANY THAT STEELS FROM THE DISABLED ORLANDO/ APPLE VALLEY/ WOODBURY Florida NEW YORK MINNESOTA
From: http://www.ripoffreport.com/reports/0/317/RipOff0317363.htm
I am also a victim from Delta Funding, TRI Minnesota Mortgage, and Ocwen Loan Servicing. Delta Funding transfered my loan to Ocwen Loan Servicing, and it has been the worst experiance in my life. When I had a problem or a concern with my billing statment that they sent me, so I called Ocwen Loan Servicing on the 800 number they provided with my statement, and each and every time their would be some sort of muslim breed that would answer and most of the time all I could understand was a very uneducated language. Ocwen needs to be hiring Americans so we can understand and talk to if we encounter problems, but no OCWEN hired thoes dam muslim breeds.Then when I requested a payoff report they sent it to me and their was around $7,000 in fraudulent fees that they wanted to steel from me.So I told them three times for them to take thoes fraudulent charges off of the report. And they declined, so I ended up paying OCWEN $7000 in fradulent fees just so I could get the HELL out of thier controll. So then I filled a complaint with the Minnesota Attorney Generals Office and they started an investigation on my behalf of OCWEN LOAN SERVICING.So now the Office Of Consumer Ombudsman for Ocwen had sent the attorney general and myself a letter that states that they had inadvertently charged thoes fees to me, and now they will be sending me a refund check to me for paying the fraudulant charges.Anyways STAY AWAY FROM THESE COMPANIES THEIR DECEPTIVE AND FRAUDULANTJustinLowry, MinnesotaU.S.A.
From: http://www.ripoffreport.com/reports/0/317/RipOff0317363.htm
I am also a victim from Delta Funding, TRI Minnesota Mortgage, and Ocwen Loan Servicing. Delta Funding transfered my loan to Ocwen Loan Servicing, and it has been the worst experiance in my life. When I had a problem or a concern with my billing statment that they sent me, so I called Ocwen Loan Servicing on the 800 number they provided with my statement, and each and every time their would be some sort of muslim breed that would answer and most of the time all I could understand was a very uneducated language. Ocwen needs to be hiring Americans so we can understand and talk to if we encounter problems, but no OCWEN hired thoes dam muslim breeds.Then when I requested a payoff report they sent it to me and their was around $7,000 in fraudulent fees that they wanted to steel from me.So I told them three times for them to take thoes fraudulent charges off of the report. And they declined, so I ended up paying OCWEN $7000 in fradulent fees just so I could get the HELL out of thier controll. So then I filled a complaint with the Minnesota Attorney Generals Office and they started an investigation on my behalf of OCWEN LOAN SERVICING.So now the Office Of Consumer Ombudsman for Ocwen had sent the attorney general and myself a letter that states that they had inadvertently charged thoes fees to me, and now they will be sending me a refund check to me for paying the fraudulant charges.Anyways STAY AWAY FROM THESE COMPANIES THEIR DECEPTIVE AND FRAUDULANTJustinLowry, MinnesotaU.S.A.
Monday, March 10, 2008
OCWEN LOAN SERVICING OUTRAGEOUS FEES, DECEPTIVE PRACTIVE, WORKOUT'S THAT DON'T WORK OUT
From: http://www.ripoffreport.com/reports/0/317/RipOff0317416.htm
Currently mortgage is being serviced by Ocwen. They agreed to enter into a forbearance agreement with me to make it easier for me. The agreement made it worse and over $20,000 of additional fee's were added on the back end of the mortgage. Almost impossible to get thru to them on the phone. In trying to work out a better payment plan had to get a third party involved before they would even listen. A loan modification was issued with stipulations that they needed to be contacted if property was sold, refinanced, ect. Even after the modification agreement was made ordered a payoff from them and still over $19,000 in interest appearing on pay-off stmt. Due to the current Real Estate Market could not even sell home to cover costs. They are very hard to get a hold of, on hold for several minutes to over half an hour at a time. Then if you do get thru usually not the place you need to be so that person cannot help you even after you have been holding for over half an hour and then they go to transfer you to the so called correct department because there is not a direct line and then they cut you off.This has happened several times. Many time's cannot understand the person on the other line or feel like your talking to a well polished machine. I thought I was doing the right thing by trying to make good on my mortgage but things just seem to get worse and worse and fee's just keep adding up. Nanfrankfort, IllinoisU.S.A.
Currently mortgage is being serviced by Ocwen. They agreed to enter into a forbearance agreement with me to make it easier for me. The agreement made it worse and over $20,000 of additional fee's were added on the back end of the mortgage. Almost impossible to get thru to them on the phone. In trying to work out a better payment plan had to get a third party involved before they would even listen. A loan modification was issued with stipulations that they needed to be contacted if property was sold, refinanced, ect. Even after the modification agreement was made ordered a payoff from them and still over $19,000 in interest appearing on pay-off stmt. Due to the current Real Estate Market could not even sell home to cover costs. They are very hard to get a hold of, on hold for several minutes to over half an hour at a time. Then if you do get thru usually not the place you need to be so that person cannot help you even after you have been holding for over half an hour and then they go to transfer you to the so called correct department because there is not a direct line and then they cut you off.This has happened several times. Many time's cannot understand the person on the other line or feel like your talking to a well polished machine. I thought I was doing the right thing by trying to make good on my mortgage but things just seem to get worse and worse and fee's just keep adding up. Nanfrankfort, IllinoisU.S.A.
Ocwen Loan Servicing Reinstatement satisfied in October 2007, still paying bogus fees.
From: http://www.ripoffreport.com/reports/0/316/RipOff0316583.htm
took this loan out in 1999 and to date have only had $2000 applied to the principal. Something is really wrong here.In mid 2007 I fell behind and was facing a foreclosure which I managed to scrape up the monies needed to satisfy the arrears. When I was given the reinstatement figure I was certain to ask if that was all the back charges and any other fees necessary to bring this account current.The answer was yes.......then, a month later I received information that my mortgage payment was past due, and I also was nearing the next payment. I called the company and could not get any intelligent answers since nobody knew what was going on..OK, I paid that figure also.Now.......I again received an excessive billing and questioned it again, to no avail. They transferred me the the research department, which only had a voicemail system. I left a message and we already know that my call will not be returned. Why would it be, nobody knows what is going on or they could answer my questions.Bottom line is.......I have had it. I think this company needs to be exposed for their illegal practices. I am looking for an Attorney who is willing to fight this company, and hopefully bring attention nationwide for all the people they are taking advantage of.There is much more to this story, but I just wanted to let this site know that it is not in New York State this report is coming from. Hopefully we will get some satisfaction if we all stick together. I am truly sorry for the people who have lost their homes, but I also know how stressful this whole ordeal is. Maybe I should let them take it, since I have already paid more than the loan was.Have a great day.
Sckofit2008
Jamestown, New YorkU.S.A.
took this loan out in 1999 and to date have only had $2000 applied to the principal. Something is really wrong here.In mid 2007 I fell behind and was facing a foreclosure which I managed to scrape up the monies needed to satisfy the arrears. When I was given the reinstatement figure I was certain to ask if that was all the back charges and any other fees necessary to bring this account current.The answer was yes.......then, a month later I received information that my mortgage payment was past due, and I also was nearing the next payment. I called the company and could not get any intelligent answers since nobody knew what was going on..OK, I paid that figure also.Now.......I again received an excessive billing and questioned it again, to no avail. They transferred me the the research department, which only had a voicemail system. I left a message and we already know that my call will not be returned. Why would it be, nobody knows what is going on or they could answer my questions.Bottom line is.......I have had it. I think this company needs to be exposed for their illegal practices. I am looking for an Attorney who is willing to fight this company, and hopefully bring attention nationwide for all the people they are taking advantage of.There is much more to this story, but I just wanted to let this site know that it is not in New York State this report is coming from. Hopefully we will get some satisfaction if we all stick together. I am truly sorry for the people who have lost their homes, but I also know how stressful this whole ordeal is. Maybe I should let them take it, since I have already paid more than the loan was.Have a great day.
Sckofit2008
Jamestown, New YorkU.S.A.
Ocwen Loan Services LLC Disabled And Wrongfully Evicted
From: http://www.ripoffreport.com/reports/0/317/RipOff0317411.htm
First, I am just the tenant. But apart of the trickle down effect. My landlord was forclosed on and evicted who has his own report to tell on this situation. Yet Ocwen did not notify me, the tenant, about it until the eviction process was under way. I offered payment to them, no go. They wanted me out that very day Feb 4, 2008. I attained legal counsel who negotiated for them to give me until March 7, 2008 to vacate said premises. They approached me with a cash for keys agreement on March 1, 2008 to leave the premises in clean condition on March 14, 2008. I signed and agreed to do so. On monday, March 10, 2008, I contacted their(Ocwen's) representative that contacted me to make sure that all was still set for March 14, 2008. I was told no eviction would be going through. Of course that day is not here yet, but I came home on March 11, 2008 to an empty house with an even emptier dumpster out front. I have yet to hear from Ocwen as to why an eviction was done prior to said agreement date. I am a disabled person on fixed income, yet they have no care or concern for this. All my aids, medical equipment, Medicines, furniture, clothes, everything is gone.
Sreed Detroit, MichiganU.S.A.
First, I am just the tenant. But apart of the trickle down effect. My landlord was forclosed on and evicted who has his own report to tell on this situation. Yet Ocwen did not notify me, the tenant, about it until the eviction process was under way. I offered payment to them, no go. They wanted me out that very day Feb 4, 2008. I attained legal counsel who negotiated for them to give me until March 7, 2008 to vacate said premises. They approached me with a cash for keys agreement on March 1, 2008 to leave the premises in clean condition on March 14, 2008. I signed and agreed to do so. On monday, March 10, 2008, I contacted their(Ocwen's) representative that contacted me to make sure that all was still set for March 14, 2008. I was told no eviction would be going through. Of course that day is not here yet, but I came home on March 11, 2008 to an empty house with an even emptier dumpster out front. I have yet to hear from Ocwen as to why an eviction was done prior to said agreement date. I am a disabled person on fixed income, yet they have no care or concern for this. All my aids, medical equipment, Medicines, furniture, clothes, everything is gone.
Sreed Detroit, MichiganU.S.A.
Sunday, March 9, 2008
Ocwen Loan Servicing Ocwen has threatened to foreclose on my home and said that they did not recieve payments that I sent.
From: http://www.ripoffreport.com/reports/0/316/RipOff0316051.htm
I have sent checks to Owcen and even post-dated checks. They sent letters saying they never recieved payments even though my bank account is now in the negative.They are going to foreclose on my home the 15th of this month if I do not come up with a payment of around $2000.00. I even go ta letter on some kind of insurance that I do not have wanting a payment on that also.I have tried to call them to figure out what is going on and I have gotten no where. I even tried to get repayment options and was given a phone number that was out of service. I have a daughter and a grandson that lives with me and by the end of the week we will be homeless. JohnPonce de Leon, FloridaU.S.A.
I have sent checks to Owcen and even post-dated checks. They sent letters saying they never recieved payments even though my bank account is now in the negative.They are going to foreclose on my home the 15th of this month if I do not come up with a payment of around $2000.00. I even go ta letter on some kind of insurance that I do not have wanting a payment on that also.I have tried to call them to figure out what is going on and I have gotten no where. I even tried to get repayment options and was given a phone number that was out of service. I have a daughter and a grandson that lives with me and by the end of the week we will be homeless. JohnPonce de Leon, FloridaU.S.A.
Wednesday, March 5, 2008
Ocwen Loan Servicing OCWEN SET UP LOAN MODIFICATION AFTER MY NUMEROUS ATTEMPTS TO REACH SOMEONE DIDN'T APPLY ALL PAYMENTS AND THEN SOLD/ TRANSFERRED
Ocwen Loan Servicing OCWEN SET UP LOAN MODIFICATION AFTER MY NUMEROUS ATTEMPTS TO REACH SOMEONE DIDN'T APPLY ALL PAYMENTS AND THEN SOLD/ TRANSFERRED MY LOAN HOUSTON Texas Internet
From: http://www.ripoffreport.com/reports/0/315/RipOff0315008.htm
I CALLED OCWEN 3 MONTHS LEAVING MESSAGES ON MY LOAN ADVISOR'S ANSWERING MACHINE AND NEVER RECEIVED A RETURN PHONE CALL. EVERYTIME I WOULD CALL IN TRICK THE SYSTEM TO GET A PERSON THEY WOULD TRANSFER TO THIS SAME VOICEMAIL AFTER I JUST EXPLAINED THE LADY WAS NOT RETURNING PHONE CALLS. THEN FINALLY AFTER 4 MONHTS NOW I AM IN FORECLOSURE LADY SAID THEY WERE MOVING AND THEY RE-ASSIGNED ME, SO SHE HELPED WITH A LOAN MODIFICATION I HAD TO COME UP WITH $1,700 APX. AND SHE SD MY LOAN WAS RESTORED. WELL APX 3 PAYMENTS WERE REPORTED TO MY CREDIT THEN THEY JUST STOPPED I CALLED AND CALLED LEAVING MESSAGES NO RESPONSE!! AFTER ABOUT 5 MONTHS APX WENT BY I GET A CALL FROM A NEW COMPANY SAYING MY LOAN WAS TRANSFERRED AND I WAS NO LONGER WITH OCWEN I TOLD THE MAN I DIDN'T RECEIVE ANY INFO. ABOUT THIS TRANSFER SO HE SAID YOU SHOULD OF GOTTEN SOMETHING IN THE MAIL I TOLD HIM I DIDN'T.BUT I AM CONFUSED BECAUSE THE NEW LOAN COMPANY HAS THE SAME PHONE NUMBER AS OCWEN.
TINA CLEVELAND, OhioU.S.A.
From: http://www.ripoffreport.com/reports/0/315/RipOff0315008.htm
I CALLED OCWEN 3 MONTHS LEAVING MESSAGES ON MY LOAN ADVISOR'S ANSWERING MACHINE AND NEVER RECEIVED A RETURN PHONE CALL. EVERYTIME I WOULD CALL IN TRICK THE SYSTEM TO GET A PERSON THEY WOULD TRANSFER TO THIS SAME VOICEMAIL AFTER I JUST EXPLAINED THE LADY WAS NOT RETURNING PHONE CALLS. THEN FINALLY AFTER 4 MONHTS NOW I AM IN FORECLOSURE LADY SAID THEY WERE MOVING AND THEY RE-ASSIGNED ME, SO SHE HELPED WITH A LOAN MODIFICATION I HAD TO COME UP WITH $1,700 APX. AND SHE SD MY LOAN WAS RESTORED. WELL APX 3 PAYMENTS WERE REPORTED TO MY CREDIT THEN THEY JUST STOPPED I CALLED AND CALLED LEAVING MESSAGES NO RESPONSE!! AFTER ABOUT 5 MONTHS APX WENT BY I GET A CALL FROM A NEW COMPANY SAYING MY LOAN WAS TRANSFERRED AND I WAS NO LONGER WITH OCWEN I TOLD THE MAN I DIDN'T RECEIVE ANY INFO. ABOUT THIS TRANSFER SO HE SAID YOU SHOULD OF GOTTEN SOMETHING IN THE MAIL I TOLD HIM I DIDN'T.BUT I AM CONFUSED BECAUSE THE NEW LOAN COMPANY HAS THE SAME PHONE NUMBER AS OCWEN.
TINA CLEVELAND, OhioU.S.A.
Saturday, March 1, 2008
Ocwen Complaints? Do Something!
Complaining about Ocwen isn’t enough, unless you complain to the right Government agency! Today I called the Federal Trade Commission and spoke to a Gwen; she informed me that if enough people complain about a company (Ocwen) and have the same type of complaint the Federal Trade Commission attorneys will act on those complaints! Reading this blog and all the other things on the net, we all are saying the same things about this dishonest company! Key word here, Enough people must complain about the same illegal things and same company! I’ve made this easy so if you don’t do it you have no one to blame but Ourselves – Yourself!
Agency: Federal Trade Commission
Phone # 1-877-382-4357 this is a free call
Or file a complaint on line here: https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01
You can expect to spend about 15 to 30 minutes between hold time and talking to a live person telling them your complaint. They will have an attorney call you for detailed information if enough of us complain about Ocwen and what they are doing to thousands of us. Do it now! Please! We must stand together and united.
Thanks JD
One comment said write your Congressman too, great Idea here is their contact information:
Senators of the 110th Congress: http://www.senate.gov/general/contact_information/senators_cfm.cfm
Agency: Federal Trade Commission
Phone # 1-877-382-4357 this is a free call
Or file a complaint on line here: https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01
You can expect to spend about 15 to 30 minutes between hold time and talking to a live person telling them your complaint. They will have an attorney call you for detailed information if enough of us complain about Ocwen and what they are doing to thousands of us. Do it now! Please! We must stand together and united.
Thanks JD
One comment said write your Congressman too, great Idea here is their contact information:
Senators of the 110th Congress: http://www.senate.gov/general/contact_information/senators_cfm.cfm
OCWEN Can not get a manager to discuss short sale. Can not get through to decision makers. Orlando Florida
From: http://www.ripoffreport.com/reports/0/313/RipOff0313374.htm
It is impossible to get through to Ocwen to salvage my property. I decided to sell the property in August 2006 and have not been able to find a qualified buyer. Finally I have one with cash on hand and Ocwen is delaying making a decision. Their Indian phone reps continuously transfer me into a vacuum of somekind never to be heard again. I have had to call the company back 5 to 6 times per day from being continuously cut off while waiting to speak with someone in collateral. I need help. I've got a bonafide buyer...help me help you Ocwen. No one calls back. No one knows why I called the day before. Everything starts from scratch. ONe person quotes one acceptable price and the next day the price is changed by the next rep. What is going on? If Ocwen believes having the house go to auction is in its best interest, could someone please tell me just to walk away from the house! I will give up if there is no chance of getting a decision from the company.
LavonneChicago, IllinoisU.S.A.
It is impossible to get through to Ocwen to salvage my property. I decided to sell the property in August 2006 and have not been able to find a qualified buyer. Finally I have one with cash on hand and Ocwen is delaying making a decision. Their Indian phone reps continuously transfer me into a vacuum of somekind never to be heard again. I have had to call the company back 5 to 6 times per day from being continuously cut off while waiting to speak with someone in collateral. I need help. I've got a bonafide buyer...help me help you Ocwen. No one calls back. No one knows why I called the day before. Everything starts from scratch. ONe person quotes one acceptable price and the next day the price is changed by the next rep. What is going on? If Ocwen believes having the house go to auction is in its best interest, could someone please tell me just to walk away from the house! I will give up if there is no chance of getting a decision from the company.
LavonneChicago, IllinoisU.S.A.
Ocwen Loan Servicing Company They refused to accept a short sale, and left me with a 1099-C that they can't substantiate Orlando Florida
From: http://www.ripoffreport.com/reports/0/312/RipOff0312948.htm
I thought I was alone in this...I started my process of a short-sale with Ocwen in Oct 2006. I had 2 real estate companies and multiple investors eager to sell/buy the property. The only probelm was Ocwen, they were not interested in accepting a short sale for the present market value. The property lost value between 2005 (when purchased) and 2006. I had extremely long hold times, constant change of contact persons handling my file and never a solid answer on my package. On 9/21/2007 my property went to a sheriff sale. This came after finding three different buyers and getting denied three times. These buyers were all interested in paying present market value. On the day of the sheriff sale the property went back to the bank for $100 according to the foreclosure attorney. Now in February 2008 I am stuck with a 1099-C in the amount of $164k. The bank can not explain to me where they came up with this number and has not provided me with any details of a transaction that would explain that charge. What am I to do? I've never made that much money, now I have to pay taxes on it. I did everything I could to save my home from foreclosure and now this.
Ms. XXXXXJersey City, New JerseyU.S.A.
I thought I was alone in this...I started my process of a short-sale with Ocwen in Oct 2006. I had 2 real estate companies and multiple investors eager to sell/buy the property. The only probelm was Ocwen, they were not interested in accepting a short sale for the present market value. The property lost value between 2005 (when purchased) and 2006. I had extremely long hold times, constant change of contact persons handling my file and never a solid answer on my package. On 9/21/2007 my property went to a sheriff sale. This came after finding three different buyers and getting denied three times. These buyers were all interested in paying present market value. On the day of the sheriff sale the property went back to the bank for $100 according to the foreclosure attorney. Now in February 2008 I am stuck with a 1099-C in the amount of $164k. The bank can not explain to me where they came up with this number and has not provided me with any details of a transaction that would explain that charge. What am I to do? I've never made that much money, now I have to pay taxes on it. I did everything I could to save my home from foreclosure and now this.
Ms. XXXXXJersey City, New JerseyU.S.A.
Thursday, February 28, 2008
OCWEN Loan Services/Cris Simmons/Ronald Faris MAKING UP CHARGES TO CREATE FORECLOSURE West Palm Beach Florida
From: http://www.ripoffreport.com/reports/0/312/RipOff0312883.htm
I contacted the company to get a payoff quote in order to refinance and i was given an inflated amount of over $9,000.00 OVER the current balance being $2,300.00 of PREPAYMENT PENALTY. Then the next day I received a Loan modification document with a cover letter threatening to ruin my credit and foreclosure if i didnt pay 5200. escrow shortage .They had acquired forced insurance and placed flood insurance where i did not require one and without notifying me were intending to use this charge to demand immediate payment or ruin my credit.
During the following days i have tried to have them reverse those charges by PROVING them of my existing insurance and they claim that they have received nothing even though i have proof of receipt of faxed documents.During the life og this loan I have NEVER PAID late not even once.
Maria Alicia medinaastoria, New YorkU.S.A.
I contacted the company to get a payoff quote in order to refinance and i was given an inflated amount of over $9,000.00 OVER the current balance being $2,300.00 of PREPAYMENT PENALTY. Then the next day I received a Loan modification document with a cover letter threatening to ruin my credit and foreclosure if i didnt pay 5200. escrow shortage .They had acquired forced insurance and placed flood insurance where i did not require one and without notifying me were intending to use this charge to demand immediate payment or ruin my credit.
During the following days i have tried to have them reverse those charges by PROVING them of my existing insurance and they claim that they have received nothing even though i have proof of receipt of faxed documents.During the life og this loan I have NEVER PAID late not even once.
Maria Alicia medinaastoria, New YorkU.S.A.
Wednesday, February 27, 2008
OCWEN LOAN SERVICING LLC, OCWEN FINANCIAL FRAUDULANT CHARGES, RIPOFF, WON'T RETURN MONIES, OR COMMUNICATE, 2ND GO AROUND IN FORBEARANCE Orlando
From: http://www.ripoffreport.com/reports/0/312/RipOff0312663.htm
I am 53 years old female who remodeled a bath in 03 and took a 2500.00 loan and refinanced my house. 1 year later, it was sold to Ocwen Financial. Payments were stable one year, then went up every 3 months. Then they put me in a flood zone, charged me $616.00 a year. Then i was sick and needed a liver transplant to live. I fell behind going on the 3rd payment but was after transplant. Husband wasn't working and my disability check was feeding us. I had repeatedly called Ocwen told them I am not in a flood zone. They said fax us the report from your surveyor. I did and he said the same 'she is not in a flood zone'. This went on 2 years. They charged another $616.00. Then i was told if you are not in a flood zone have FEMA remove it and we will give your money back. That was 2006. Still no money and i have called and called. I had a 11.678% rate and a they said you must pay today $820.00 and we will fax papers and you sign them or we will take your house. So i did this, cashier's check and all. Scared to death i would loose my home. This was Jan.06. They said the 'forebearance plan' would resolve all issues. BUT they don't tell you, when you pay on time, they still report you late. UNFAIR...so unfair. THEY don't tell you anything. I paid over 3000.00 more than what was behind and due and owing and they now say i owe 5300.00 and i need another 'forbearance plan' modification. I was told on Feb 8th, my down payment would be $790.00 and my monthly payment would be $363.45. I never received any papers, said it was restructured and it would be for fixed rate of 6%. NO PAPERS NOTHING came and i called on Feb. 8th(original call) then no papers so i called again Feb 11, 15, and today 27th and a new story of no no who told you that. It is not approved. They now have 1880.12 of my money setting in escrow and they won't let me have it. THey keep telling me you must contact the Escrow dept and have it re-evaluated. Well it has been done by fax, on the phone and certified mail since August of last year and still no money. RIPOFF.I need an attorney that will help me. Is there anyone or others that need an attorney to HIT OCWEN in the pocketbook. Other people have won several millions, but us little poor people don't have the funds. WHO ELSE HAS OCWEN RIPPED OFF? Let me know. Would love to hear your story.
Lickcreeker1
Paoli, IndianaU.S.A
I am 53 years old female who remodeled a bath in 03 and took a 2500.00 loan and refinanced my house. 1 year later, it was sold to Ocwen Financial. Payments were stable one year, then went up every 3 months. Then they put me in a flood zone, charged me $616.00 a year. Then i was sick and needed a liver transplant to live. I fell behind going on the 3rd payment but was after transplant. Husband wasn't working and my disability check was feeding us. I had repeatedly called Ocwen told them I am not in a flood zone. They said fax us the report from your surveyor. I did and he said the same 'she is not in a flood zone'. This went on 2 years. They charged another $616.00. Then i was told if you are not in a flood zone have FEMA remove it and we will give your money back. That was 2006. Still no money and i have called and called. I had a 11.678% rate and a they said you must pay today $820.00 and we will fax papers and you sign them or we will take your house. So i did this, cashier's check and all. Scared to death i would loose my home. This was Jan.06. They said the 'forebearance plan' would resolve all issues. BUT they don't tell you, when you pay on time, they still report you late. UNFAIR...so unfair. THEY don't tell you anything. I paid over 3000.00 more than what was behind and due and owing and they now say i owe 5300.00 and i need another 'forbearance plan' modification. I was told on Feb 8th, my down payment would be $790.00 and my monthly payment would be $363.45. I never received any papers, said it was restructured and it would be for fixed rate of 6%. NO PAPERS NOTHING came and i called on Feb. 8th(original call) then no papers so i called again Feb 11, 15, and today 27th and a new story of no no who told you that. It is not approved. They now have 1880.12 of my money setting in escrow and they won't let me have it. THey keep telling me you must contact the Escrow dept and have it re-evaluated. Well it has been done by fax, on the phone and certified mail since August of last year and still no money. RIPOFF.I need an attorney that will help me. Is there anyone or others that need an attorney to HIT OCWEN in the pocketbook. Other people have won several millions, but us little poor people don't have the funds. WHO ELSE HAS OCWEN RIPPED OFF? Let me know. Would love to hear your story.
Lickcreeker1
Paoli, IndianaU.S.A
Tuesday, February 26, 2008
Ocwen Loan Servicing Bank What you did in the dark OCWEN will show up in the light (i.e. Court). West Palm Beach Florida
From: http://www.ripoffreport.com/reports/0/312/RipOff0312761.htm
I have been fighting with OCWEN for the last two years since my loan was sold in 2005. I have received certified letters from Ocwen saying that my loan is in default and I owe over $9,000.00 and I am in jeopardy of defaulting on my loan agreement. In return I sent Ocwen a certified letter stating that I disagree with this amount due to the fact that I requested the escrow fees to be cancelled and we would pay our own taxes. Ocwen told us they can not discontinue our impounds because it is too much of a risk. Then our payments increased without prior notice of about $400.00 our contract said the payments were not suspose to increase untill October of 2007.
I called Ocwen but could not understand the rep I was speaking with and nothing was resolved at that time. I sent prearranged bi-weekly payments the payments were diposited before the time agreed an resulted in my check being returned. Ocwen then refused my payments unless I paid by cash only.
They then wanted late fees, attorney fees, and other fees that I have never heard of, I asked if they wanted my first born too. I ended up contacting a lawyer because they sent me a letter saying my home was on the auction block. In the end I paid over 21k to bring the account back to contractual agreement, ( yea right!). The lady oops! wrong choice of words, the ocwen employee Evelyn said she cannot guarantee that the loan will be reinstated. They then ask for anoher $3000.00 for some other bogus fees. I told them they had better take that 21k and leave me the hell alone. To this day Ocwen have not updated my information with the credit bureaus and I am unable to refinance because of negative reporting. My prayers have been answered. Finally GOD has sent Mr. Hanson to the rescue.
Angela Victorville, CaliforniaU.S.A.
I have been fighting with OCWEN for the last two years since my loan was sold in 2005. I have received certified letters from Ocwen saying that my loan is in default and I owe over $9,000.00 and I am in jeopardy of defaulting on my loan agreement. In return I sent Ocwen a certified letter stating that I disagree with this amount due to the fact that I requested the escrow fees to be cancelled and we would pay our own taxes. Ocwen told us they can not discontinue our impounds because it is too much of a risk. Then our payments increased without prior notice of about $400.00 our contract said the payments were not suspose to increase untill October of 2007.
I called Ocwen but could not understand the rep I was speaking with and nothing was resolved at that time. I sent prearranged bi-weekly payments the payments were diposited before the time agreed an resulted in my check being returned. Ocwen then refused my payments unless I paid by cash only.
They then wanted late fees, attorney fees, and other fees that I have never heard of, I asked if they wanted my first born too. I ended up contacting a lawyer because they sent me a letter saying my home was on the auction block. In the end I paid over 21k to bring the account back to contractual agreement, ( yea right!). The lady oops! wrong choice of words, the ocwen employee Evelyn said she cannot guarantee that the loan will be reinstated. They then ask for anoher $3000.00 for some other bogus fees. I told them they had better take that 21k and leave me the hell alone. To this day Ocwen have not updated my information with the credit bureaus and I am unable to refinance because of negative reporting. My prayers have been answered. Finally GOD has sent Mr. Hanson to the rescue.
Angela Victorville, CaliforniaU.S.A.
Ocwen Loan Servicing Moved my payment money to insurance and reported late pmt. wrongfully, because I had my own insurance Carol Stream Illinois
From: http://www.ripoffreport.com/reports/0/312/RipOff0312426.htm
last summer my credit was very important to me. now that ocwen ruined it i don't care as much any more. as with the others my mortgage was sold to ocwen. everything went fine until my homeowners insurance sent a warning that i need to pay or it will be cancelled in two weeks. i paid the ammount owed and thought my problems were over. wrong ocwen took my payments and bought 4x over priced insurance, and called stating i was late. I still wasn't over 30 days behind, so I informed them that I don't need insurance mine is payed up and to please refund my money. they agreed and 30 days later bad credit was reported. I checked my statement and they were still buying insurance with my pmt. money. I wrote a letter with my insurance name phone number and account number. I thought everything was fine again until another 30 days late reported. I had my insurance lady fax the information to ocwen and ocwen said 'Oh you have your own insurance' and credited my account only 70% the ammount they took and didn't repair my credit. I was so mad, and felt ripped off. My credit was ruined, so I decided not to pay until they corrected the problem. My house went into foreclosure, so I reluctantly paid all the fines and got it out of foreclosure. I knew I needed to pay the loan off completely, so I invested mega time and money into a real estate flip project. My house is now into forclosure again. My credit is shot. I did flip the investment house and now can pay off the loan which is 50% value of my house. They want to take it and pocket the equity. I now have the money to pay them, but they won't answer the phone concistantly. After a 1 hour hold time they finally answered, but won't give me a payoff ammount or where to wire the money. I think they are stalling to claim the house. I am scared to send it to them even if they would tell me where to send it. What if they just keep the money and not release the loan. Please help me safely pay them. I have 2 children a fiance in school and a baby on the way. I don't want to lose my house.
Michael louisville, KentuckyU.S.A.
last summer my credit was very important to me. now that ocwen ruined it i don't care as much any more. as with the others my mortgage was sold to ocwen. everything went fine until my homeowners insurance sent a warning that i need to pay or it will be cancelled in two weeks. i paid the ammount owed and thought my problems were over. wrong ocwen took my payments and bought 4x over priced insurance, and called stating i was late. I still wasn't over 30 days behind, so I informed them that I don't need insurance mine is payed up and to please refund my money. they agreed and 30 days later bad credit was reported. I checked my statement and they were still buying insurance with my pmt. money. I wrote a letter with my insurance name phone number and account number. I thought everything was fine again until another 30 days late reported. I had my insurance lady fax the information to ocwen and ocwen said 'Oh you have your own insurance' and credited my account only 70% the ammount they took and didn't repair my credit. I was so mad, and felt ripped off. My credit was ruined, so I decided not to pay until they corrected the problem. My house went into foreclosure, so I reluctantly paid all the fines and got it out of foreclosure. I knew I needed to pay the loan off completely, so I invested mega time and money into a real estate flip project. My house is now into forclosure again. My credit is shot. I did flip the investment house and now can pay off the loan which is 50% value of my house. They want to take it and pocket the equity. I now have the money to pay them, but they won't answer the phone concistantly. After a 1 hour hold time they finally answered, but won't give me a payoff ammount or where to wire the money. I think they are stalling to claim the house. I am scared to send it to them even if they would tell me where to send it. What if they just keep the money and not release the loan. Please help me safely pay them. I have 2 children a fiance in school and a baby on the way. I don't want to lose my house.
Michael louisville, KentuckyU.S.A.
Ocwen Loan Servicing - US National Bank As Trustee For Morgan Stanley Dean Dean Witter Capital Forced into Foreclosure, Deceptive Practices, Lying
Ocwen Loan Servicing - US National Bank As Trustee For Morgan Stanley Dean Dean Witter Capital Forced into Foreclosure, Deceptive Practices, Lying about information, Misinformation, Outrageous, Unexplainable Fees, Horrible Company, Representatives in Foreign Countries that can barely speak English, Ripoff, Orlando Florida
From: http://www.ripoffreport.com/reports/0/312/RipOff0312018.htm
We bought our home almost 14 years ago (June 1994) with a payment of $598 including taxes & insurance. We were doing fine, so we decided to refinance to get my father's name off of the mortgage. BAD IDEA!! Since September 2001 we have had nothing but problems because of Ocwen Loan Servicing. Our payments skyrocketed. In 2003 when my doctor told me to quit my high stress job things got even worse and we got behind. Well, since then we have been trying to deal with this deceptive company to save our home for our four children. Most recently, they were making us pay $1,298 per month not even including taxes and insurance. When I called them to ask about loan modification (adding to the end of our loan, reducing the interest rate, anything to LOWER the payment) I was told to fill out paperwork and fax it in. Well, I did as I was instructed and their solution was that we pay them a lump sum $3,000 and monthly payments of $1,387! What the heck?!? I faithfully asked for their help, and they screwed us again! I said forget it, we will just continue with what we were paying since that was almost $100 less per month. Oh, NO, you cannot do that because you were taken off of that plan when you requested loan modification! I was NEVER INFORMED of that! So, you know what?? I am not giving this company another penny of my money. We bought our home in 1994 for $71,117 and 14 years later Ocwen Loan Servicing says that we owe them over $106,000! They will not work with me in any way, so I will not deal with them any longer. They are a horrible, deceptive company and are stealing peoples' hard earned money and homes. I only hope that something good comes from this. We are in our home right now, but if we have to move we will. I refuse to give this evil company any more of my hard earned money. If they want our home instead of trying to work with us, so be it. I would rather move than to give in to their deception and lies.
MerjBROKEN ARROW, OklahomaU.S.A.
From: http://www.ripoffreport.com/reports/0/312/RipOff0312018.htm
We bought our home almost 14 years ago (June 1994) with a payment of $598 including taxes & insurance. We were doing fine, so we decided to refinance to get my father's name off of the mortgage. BAD IDEA!! Since September 2001 we have had nothing but problems because of Ocwen Loan Servicing. Our payments skyrocketed. In 2003 when my doctor told me to quit my high stress job things got even worse and we got behind. Well, since then we have been trying to deal with this deceptive company to save our home for our four children. Most recently, they were making us pay $1,298 per month not even including taxes and insurance. When I called them to ask about loan modification (adding to the end of our loan, reducing the interest rate, anything to LOWER the payment) I was told to fill out paperwork and fax it in. Well, I did as I was instructed and their solution was that we pay them a lump sum $3,000 and monthly payments of $1,387! What the heck?!? I faithfully asked for their help, and they screwed us again! I said forget it, we will just continue with what we were paying since that was almost $100 less per month. Oh, NO, you cannot do that because you were taken off of that plan when you requested loan modification! I was NEVER INFORMED of that! So, you know what?? I am not giving this company another penny of my money. We bought our home in 1994 for $71,117 and 14 years later Ocwen Loan Servicing says that we owe them over $106,000! They will not work with me in any way, so I will not deal with them any longer. They are a horrible, deceptive company and are stealing peoples' hard earned money and homes. I only hope that something good comes from this. We are in our home right now, but if we have to move we will. I refuse to give this evil company any more of my hard earned money. If they want our home instead of trying to work with us, so be it. I would rather move than to give in to their deception and lies.
MerjBROKEN ARROW, OklahomaU.S.A.
Ocwen Loan Servicing, Ocwen violates Section 6 of RESPA and various other laws West Palm Beach Florida
From: http://www.ripoffreport.com/reports/0/312/RipOff0312432.htm
Well, I too have had nothing but problems w/Ocwen. I have sent several dispute letters and all have been competely ignored... they are considered 'qualified written requests' under section 6 of RESPA. These are violations here, inaccurate credit reporting, fees being charged, etc. Just the same thing you continually hear about Ocwen. When is the government going to wake up. Why is a business able to break the laws, but we get knocked for everything. They want my money and my house, well, it's not gonna happen. Here is also a link I found...look at what they make!!
http://www.cfonews.com/ocn/f032406.txt
pretty interesting what these people make and yet my husband risks his life every day and doesnt make 1/4 of what these people make and they want my little house too!
i cannot provide much info because of litigation soon.
anonymous Walworth, Wisconsin U.S.A.
Well, I too have had nothing but problems w/Ocwen. I have sent several dispute letters and all have been competely ignored... they are considered 'qualified written requests' under section 6 of RESPA. These are violations here, inaccurate credit reporting, fees being charged, etc. Just the same thing you continually hear about Ocwen. When is the government going to wake up. Why is a business able to break the laws, but we get knocked for everything. They want my money and my house, well, it's not gonna happen. Here is also a link I found...look at what they make!!
http://www.cfonews.com/ocn/f032406.txt
pretty interesting what these people make and yet my husband risks his life every day and doesnt make 1/4 of what these people make and they want my little house too!
i cannot provide much info because of litigation soon.
anonymous Walworth, Wisconsin U.S.A.
Monday, February 25, 2008
Ocwen Financial Corp changing terms of contract West Palm Beach Florida
ocwen has changed the interest rate and payments when i do not have an adjustable rate morgage. when questioned about this, they said they could do anything they wanted and they do not have to explain why. my interest rate has went from 9.8% to almost 19%. my payments have doubled to more than my monthly income. and all they say is we might look into it. when i call to see whats going on , they say we are looking into it yet,or do not answer phone.
Kathy acworth, GeorgiaU.S.A.
Kathy acworth, GeorgiaU.S.A.
I am very sorry for anyone dealing with Ocwen right now
From comments: http://ocwen-complaints.blogspot.com/2008/01/ocwen-loan-servicing-ocwen-loan.html
I am very sorry for anyone dealing with Ocwen right now. I'm a Realtor and working with them on two short sales right now. My experience has been that they have consistently had phone system problems and when you finally get through to the call center in India, nobody can help you. And here's the slap in the face. While you wait on hold incessantly, they ask you to take a customer service survey by calling a toll-free number that doesn't even work!
I am very sorry for anyone dealing with Ocwen right now. I'm a Realtor and working with them on two short sales right now. My experience has been that they have consistently had phone system problems and when you finally get through to the call center in India, nobody can help you. And here's the slap in the face. While you wait on hold incessantly, they ask you to take a customer service survey by calling a toll-free number that doesn't even work!
Friday, February 22, 2008
Ocwen Loan Sevicing holding the check and sticking it to me thanks...to whom West Palm Beach Florida
From: http://www.ripoffreport.com/reports/0/310/RipOff0310781.htm
To Whom it may concern. Ever since ocwen toke over my mortgage. me not knowing. my fist payment was sent by the 4 of the month as always if not sooner .2 weeks later i recieved a call saying they have not recieved my payment. the money was taken from my acount 4th. that seemed funny to me. that they DID not post it till it was 2 weeks late. they still charged me late fees . for what i paid it on time???? that was from the very start. IT seemed they find a way to hold my payments till they are late. then charge the HELL out of me. im your average american 6 kids wife just trying to have something for my family. it has been 2 years with OCwen and a living hell . If they hold just one check it SCREWS up balanceof my books the the banks charge me too. how can survive like that? I lose all the way around. I barely make enough to make my payment and these TACTICS of said company(companies) is what is KILLING AMERICA apart. its all about the money. thats good and all but please. the goverment should be looking into practices of said company .and i'm sure others too.. I truly believe that....IM BEING ROBBED.. this has gone on for too long.. I read a ladies complaint on line . and i said wow thats My story. I dont feel alone on this.I believe this company has charged me and probably countless others IMPROPER FEEs for their mistakes.. not saying im perfect i'm not no one is. these people are screwing with my home. and i had no choice in the matter. all the loan people we dealt with. really didnot tell us the whole story when we signed the papers. ALL for the fast BUCK PLEASE DO NOT DEAL WITH THIS COMPANY. YOU WONT UNDERSTAND THEIR OPERATORS ANYWAY IF YOUR A LAWYER AND WANT TO TALK PLEASE DO... I'M BEING ROBBEDIm being robbedfishing creek, MarylandU.S.A.
To Whom it may concern. Ever since ocwen toke over my mortgage. me not knowing. my fist payment was sent by the 4 of the month as always if not sooner .2 weeks later i recieved a call saying they have not recieved my payment. the money was taken from my acount 4th. that seemed funny to me. that they DID not post it till it was 2 weeks late. they still charged me late fees . for what i paid it on time???? that was from the very start. IT seemed they find a way to hold my payments till they are late. then charge the HELL out of me. im your average american 6 kids wife just trying to have something for my family. it has been 2 years with OCwen and a living hell . If they hold just one check it SCREWS up balanceof my books the the banks charge me too. how can survive like that? I lose all the way around. I barely make enough to make my payment and these TACTICS of said company(companies) is what is KILLING AMERICA apart. its all about the money. thats good and all but please. the goverment should be looking into practices of said company .and i'm sure others too.. I truly believe that....IM BEING ROBBED.. this has gone on for too long.. I read a ladies complaint on line . and i said wow thats My story. I dont feel alone on this.I believe this company has charged me and probably countless others IMPROPER FEEs for their mistakes.. not saying im perfect i'm not no one is. these people are screwing with my home. and i had no choice in the matter. all the loan people we dealt with. really didnot tell us the whole story when we signed the papers. ALL for the fast BUCK PLEASE DO NOT DEAL WITH THIS COMPANY. YOU WONT UNDERSTAND THEIR OPERATORS ANYWAY IF YOUR A LAWYER AND WANT TO TALK PLEASE DO... I'M BEING ROBBEDIm being robbedfishing creek, MarylandU.S.A.
Thursday, February 21, 2008
More on Project Lifeline
I don't know if Ocwen has joined this, if you do please leave information in the comments as to details.
This is what Treasury Secretary Henry Paulson said on the plan.
From: http://www.treas.gov/press/releases/hp820.htm
February 12, 2008hp-820
Statement by Secretary Henry M. Paulson, Jr.on New Private Sector Effort to Reach Homeowners Facing Foreclosure
Washington, DC-- Good morning. Thank you, Secretary Jackson, for joining us. We are going to provide an update on the HOPE NOW alliance's efforts to help struggling homeowners and – as Floyd Robinson of Bank of America, speaking on behalf of six leading mortgage servicers, will announce – an additional, important effort targeting those facing the greatest, immediate risk of losing their home.
When the HOPE NOW alliance was announced in October, we made clear that this would be an evolving private sector-led effort to help minimize the impact of the housing downturn on homeowners, neighborhoods and the U.S. economy. It is just one of many steps which the Bush Administration is encouraging as we work through this difficult period. Tomorrow, President Bush will also sign into law an economic growth package that will, through rebate payments to over 130 million Americans and tax incentives to businesses, provide a temporary, meaningful boost to our economy as we weather the housing correction.
Today, six of the largest servicers, who represent 50 percent of the mortgage market, are announcing Project Lifeline, a targeted outreach to homeowners' 90-days or more delinquent that may lead to a "pause" in the foreclosure process. This is an important new initiative, targeted to reach not only subprime borrowers, but all 90-day delinquent homeowners nationwide with a step-by-step approach to find individual solutions to individual problems. We encourage all HOPE NOW servicers to adopt this new program.
Project Lifeline is aimed at homeowners who face a real risk of losing their home, but have not yet addressed the problem. Perhaps they are hoping to find a way to get current on their mortgage payments, or perhaps they don't think any solution is possible. For whatever reason they have not yet taken action; our hope is that today's announcement will reach them, and they will reach out immediately for help – especially now that the foreclosure process is upon them.
Of course, there will be homeowners who still take no action, and some will simply walk away from their mortgage – particularly those borrowers who put little or no money down and whose mortgage exceeds their home value. No program can bring every struggling borrower into the counseling and evaluation process, and we cannot help those who choose not to honor their obligations. But Project Lifeline has the potential to offer new solutions to responsible, able homeowners who want to keep their homes.
Overall, the HOPE NOW alliance is striving to help as many able but struggling homeowners as possible – whether prime, alt-a or subprime borrowers. Clearly there is much more work to do, but progress has been made since the formation of HOPE NOW just over four months ago.
In those four months:
HOPE NOW membership has grown from 60 percent of the subprime mortgage servicer market to 94 percent; today, 25 servicers are represented.
The nationwide hotline (888-995-HOPE) has been publicized and expanded; daily call volume has increased from 625 to 4,000.
Servicers and investors are now providing funds for counseling; previously, only government and foundations provided funding.
In the first three months, HOPE NOW servicers sent 775,000 letters to at-risk homeowners; early results show a 16 percent response rate. Homeowners who had previously avoided contact are now calling for help, and over 200,000 additional letters are being sent every month.
Today, all HOPE NOW servicers are contacting subprime borrowers 120 days before their interest rate resets.
In the second half of 2007, the industry assisted an estimated 869,000 homeowners and, coincident with the formation of HOPE NOW, the loan modification rate in the fourth quarter doubled over the rate in the third quarter.
Secretary Jackson will also update us on FHA's progress in moving borrowers into affordable, long-term mortgages.
These results are before implementation of the American Securitization Forum's (ASF) fast-track re-financing and loan modification framework. Servicers began implementing that plan in January after resolving a number of important issues, including receiving accounting guidance from the SEC on FAS 140 on January 8.
We have a lot of work ahead of us; these efforts can succeed only if they are pursued industry wide. I am particularly focused on two important steps.
First, I am eager to see the ASF framework and Project Lifeline adopted by all servicers. If the ASF plan works the way it is intended to subprime borrowers who have made payments on-time at the initial rate and who want to stay in their homes but can't afford the higher rate should be fast-tracked into a modification – which in many cases will be an interest rate freeze of at least five years – or be fast-tracked into an affordable refinancing. Through Project Lifeline, those borrowers facing immediate foreclosure may be able to find individual solutions.
Second, I will be working closely with the HOPE NOW alliance on their plans for reporting progress. It is critical that they release monthly information, within 30 days of the end of the month, so that we can monitor progress and adapt as needed. Industry will be updating us throughout the month.
As I have said many times, the HOPE NOW alliance is an evolving effort. As our economy works through this difficult period, we will look for additional opportunities to try to avoid preventable foreclosures. However, none of these efforts are a silver bullet that will undo the excesses of the past years, nor are they designed to bail out real estate speculators or those who committed fraud during the mortgage process. These efforts are to help American families who both want to and can, through a loan modification or re-financing, stay in their homes.
I believe that our economy will continue to grow, although at a slower pace in the coming quarters, and that it remains fundamentally diverse and resilient.
I congratulate the HOPE NOW alliance for your flexibility and your hard work. You are helping our economy and our families, and you are also demonstrating the very resiliency which I spoke of a moment ago. Thank you.
This is what Treasury Secretary Henry Paulson said on the plan.
From: http://www.treas.gov/press/releases/hp820.htm
February 12, 2008hp-820
Statement by Secretary Henry M. Paulson, Jr.on New Private Sector Effort to Reach Homeowners Facing Foreclosure
Washington, DC-- Good morning. Thank you, Secretary Jackson, for joining us. We are going to provide an update on the HOPE NOW alliance's efforts to help struggling homeowners and – as Floyd Robinson of Bank of America, speaking on behalf of six leading mortgage servicers, will announce – an additional, important effort targeting those facing the greatest, immediate risk of losing their home.
When the HOPE NOW alliance was announced in October, we made clear that this would be an evolving private sector-led effort to help minimize the impact of the housing downturn on homeowners, neighborhoods and the U.S. economy. It is just one of many steps which the Bush Administration is encouraging as we work through this difficult period. Tomorrow, President Bush will also sign into law an economic growth package that will, through rebate payments to over 130 million Americans and tax incentives to businesses, provide a temporary, meaningful boost to our economy as we weather the housing correction.
Today, six of the largest servicers, who represent 50 percent of the mortgage market, are announcing Project Lifeline, a targeted outreach to homeowners' 90-days or more delinquent that may lead to a "pause" in the foreclosure process. This is an important new initiative, targeted to reach not only subprime borrowers, but all 90-day delinquent homeowners nationwide with a step-by-step approach to find individual solutions to individual problems. We encourage all HOPE NOW servicers to adopt this new program.
Project Lifeline is aimed at homeowners who face a real risk of losing their home, but have not yet addressed the problem. Perhaps they are hoping to find a way to get current on their mortgage payments, or perhaps they don't think any solution is possible. For whatever reason they have not yet taken action; our hope is that today's announcement will reach them, and they will reach out immediately for help – especially now that the foreclosure process is upon them.
Of course, there will be homeowners who still take no action, and some will simply walk away from their mortgage – particularly those borrowers who put little or no money down and whose mortgage exceeds their home value. No program can bring every struggling borrower into the counseling and evaluation process, and we cannot help those who choose not to honor their obligations. But Project Lifeline has the potential to offer new solutions to responsible, able homeowners who want to keep their homes.
Overall, the HOPE NOW alliance is striving to help as many able but struggling homeowners as possible – whether prime, alt-a or subprime borrowers. Clearly there is much more work to do, but progress has been made since the formation of HOPE NOW just over four months ago.
In those four months:
HOPE NOW membership has grown from 60 percent of the subprime mortgage servicer market to 94 percent; today, 25 servicers are represented.
The nationwide hotline (888-995-HOPE) has been publicized and expanded; daily call volume has increased from 625 to 4,000.
Servicers and investors are now providing funds for counseling; previously, only government and foundations provided funding.
In the first three months, HOPE NOW servicers sent 775,000 letters to at-risk homeowners; early results show a 16 percent response rate. Homeowners who had previously avoided contact are now calling for help, and over 200,000 additional letters are being sent every month.
Today, all HOPE NOW servicers are contacting subprime borrowers 120 days before their interest rate resets.
In the second half of 2007, the industry assisted an estimated 869,000 homeowners and, coincident with the formation of HOPE NOW, the loan modification rate in the fourth quarter doubled over the rate in the third quarter.
Secretary Jackson will also update us on FHA's progress in moving borrowers into affordable, long-term mortgages.
These results are before implementation of the American Securitization Forum's (ASF) fast-track re-financing and loan modification framework. Servicers began implementing that plan in January after resolving a number of important issues, including receiving accounting guidance from the SEC on FAS 140 on January 8.
We have a lot of work ahead of us; these efforts can succeed only if they are pursued industry wide. I am particularly focused on two important steps.
First, I am eager to see the ASF framework and Project Lifeline adopted by all servicers. If the ASF plan works the way it is intended to subprime borrowers who have made payments on-time at the initial rate and who want to stay in their homes but can't afford the higher rate should be fast-tracked into a modification – which in many cases will be an interest rate freeze of at least five years – or be fast-tracked into an affordable refinancing. Through Project Lifeline, those borrowers facing immediate foreclosure may be able to find individual solutions.
Second, I will be working closely with the HOPE NOW alliance on their plans for reporting progress. It is critical that they release monthly information, within 30 days of the end of the month, so that we can monitor progress and adapt as needed. Industry will be updating us throughout the month.
As I have said many times, the HOPE NOW alliance is an evolving effort. As our economy works through this difficult period, we will look for additional opportunities to try to avoid preventable foreclosures. However, none of these efforts are a silver bullet that will undo the excesses of the past years, nor are they designed to bail out real estate speculators or those who committed fraud during the mortgage process. These efforts are to help American families who both want to and can, through a loan modification or re-financing, stay in their homes.
I believe that our economy will continue to grow, although at a slower pace in the coming quarters, and that it remains fundamentally diverse and resilient.
I congratulate the HOPE NOW alliance for your flexibility and your hard work. You are helping our economy and our families, and you are also demonstrating the very resiliency which I spoke of a moment ago. Thank you.
Tuesday, February 19, 2008
Help against Ocwen
From: http://ocwen-mortgage-company.pissedconsumer.com/complaint-20080101112137.html
Lamphear6@netzero
1yr ago we entered into a forbearance plan with both mortgage companys. on the final month we recieved a notice that they ocwen forclosed on my house and they were taking moneys for an escrow account. after many months of talking to them and my first mortagage senting them 14yrs of payment history. they still to this day state that they are in first postion and that my home was forclosed for 3 months so my credit *** and they sent me a bill due 2-1-08 for 13,850.00 in pass due payments help!!!! any info needed.now
Lamphear6@netzero
1yr ago we entered into a forbearance plan with both mortgage companys. on the final month we recieved a notice that they ocwen forclosed on my house and they were taking moneys for an escrow account. after many months of talking to them and my first mortagage senting them 14yrs of payment history. they still to this day state that they are in first postion and that my home was forclosed for 3 months so my credit *** and they sent me a bill due 2-1-08 for 13,850.00 in pass due payments help!!!! any info needed.now
Ocwen opinion - I am so sorry that I met these people
From: http://www.pissedconsumer.com/consumer-reviews/mortgage/ocwen-opinion-%11-mortgage-companies-2007040597575.html
I am so sorry that I met these people. They are horrible to deal with.. I was sick and started Chemo Therapy and THEY DON'T CARE!! They kacked are payments up for FOREBARENCE and we can barely afford them, now.. We are always getting nasty calls, even if we ar 1 day late.. Oh and not to mention.. NO grace period when on Forebarnce,, Plus all the fees.. I asked for a payoff, and it was 13,000.00 more than what we should.. They have reported our credit wrong to the 3 major companies as well as I feel as if they are flying like buzzrds around our house, waiting to take it at any second!! They, sould be ashamed of themselves.. I asked them to restructure our loan so we can get back on track, now that I have income again.. That is an option of their on their website, but not one person will discuss that option... I feel as if I am drowning in a pool of sharks.. They are ruthless.. I feel sorry for anyone who deals with these people. I pray for the soles when Judgement Day comes to them.. I would love to Sue the pants off of them and shut them down for good, so no one else ever has to endure what we have gone thru... God Bless You all and may your situations work out.. You are all in my prayers tonight.
KimberlyPalmyra, VirginiaU.S.A.
I am so sorry that I met these people. They are horrible to deal with.. I was sick and started Chemo Therapy and THEY DON'T CARE!! They kacked are payments up for FOREBARENCE and we can barely afford them, now.. We are always getting nasty calls, even if we ar 1 day late.. Oh and not to mention.. NO grace period when on Forebarnce,, Plus all the fees.. I asked for a payoff, and it was 13,000.00 more than what we should.. They have reported our credit wrong to the 3 major companies as well as I feel as if they are flying like buzzrds around our house, waiting to take it at any second!! They, sould be ashamed of themselves.. I asked them to restructure our loan so we can get back on track, now that I have income again.. That is an option of their on their website, but not one person will discuss that option... I feel as if I am drowning in a pool of sharks.. They are ruthless.. I feel sorry for anyone who deals with these people. I pray for the soles when Judgement Day comes to them.. I would love to Sue the pants off of them and shut them down for good, so no one else ever has to endure what we have gone thru... God Bless You all and may your situations work out.. You are all in my prayers tonight.
KimberlyPalmyra, VirginiaU.S.A.
Ocwen Cheats Customers
From: http://ocwen.pissedconsumer.com/ocwen-cheats-customers-20080214113112.html
What is being done about Ocwen is what I want to know. I am contacting my State Credit Commissioner and filing a complaint, they have run me into an 8K negative and misapplied some of my payments so they are showing me past due and I have made every single payment on time every single month. Rip OFF artists! No wonder they have so many REOs listed on their web site. I have asked customer service for a copy of their payment history to find out where they applied my payments for two years and to this day, they have sent me nothing, Can the do this?
Ocwen complaint by Txdrling
What is being done about Ocwen is what I want to know. I am contacting my State Credit Commissioner and filing a complaint, they have run me into an 8K negative and misapplied some of my payments so they are showing me past due and I have made every single payment on time every single month. Rip OFF artists! No wonder they have so many REOs listed on their web site. I have asked customer service for a copy of their payment history to find out where they applied my payments for two years and to this day, they have sent me nothing, Can the do this?
Ocwen complaint by Txdrling
Ocwen complaint
From: http://www.pissedconsumer.com/consumer-reviews/direct-lenders/dirty-rotten-bastards-20071210108627.html
My daughters mortgage was bought out by Ocwen back at the first of the year. My daughter works for the Federal government. She had a excellent credit rating until Ocwen came into the picture. One month after they bought her loan. She recieved a notice saying she owed ( $6000.00). Needless to say she was shocked. The first thing she said was "I have all my cancled checks for the payments." Are you ready for this, They said. "Thats not what are computer says" She is in litigation about this. They wanted her to sign a forebearance agreement. When she ask them where her money was, they told her the could not discuss it with her until she sign the forebearance agreement. If she signed it that means she is admitting she is in default of the loan.She has two loans but they only want to try and claim default only on one. (Naturally it is the larger of the two). In the process of trying to straignten out this mess she always seem to wind up talking to a "Outsourced Hindu with a heavy India accent. Needless to say this is futile. I have written to my Senator ( Blanche Lincoln) to investigate (Ocwen). Something must be done before no one has a home left to live in under this companies tyranny.If we all band together we can bring these bastards to justice. Otherwise it will be ( Just-us) who suffer.Thank you for your time
Tony FrederickHot Springs, Arkansas
My daughters mortgage was bought out by Ocwen back at the first of the year. My daughter works for the Federal government. She had a excellent credit rating until Ocwen came into the picture. One month after they bought her loan. She recieved a notice saying she owed ( $6000.00). Needless to say she was shocked. The first thing she said was "I have all my cancled checks for the payments." Are you ready for this, They said. "Thats not what are computer says" She is in litigation about this. They wanted her to sign a forebearance agreement. When she ask them where her money was, they told her the could not discuss it with her until she sign the forebearance agreement. If she signed it that means she is admitting she is in default of the loan.She has two loans but they only want to try and claim default only on one. (Naturally it is the larger of the two). In the process of trying to straignten out this mess she always seem to wind up talking to a "Outsourced Hindu with a heavy India accent. Needless to say this is futile. I have written to my Senator ( Blanche Lincoln) to investigate (Ocwen). Something must be done before no one has a home left to live in under this companies tyranny.If we all band together we can bring these bastards to justice. Otherwise it will be ( Just-us) who suffer.Thank you for your time
Tony FrederickHot Springs, Arkansas
Ocwen Loan Servicing/Wachovia Bank Illegal foreclosure practices Brockton Massachusetts
From: http://www.ripoffreport.com/reports/0/310/RipOff0310089.htm
Here is our situation, We are victims of a 'Hate Crime' against my famil which took place in our neighborhood. With grand jury indictments and courts we are physically and mentally stressed out. We both lost our jobs, house went into foreclosure, bank know owns the house and they transferred it over to the REO department (Realestate Owned). We are still in the house trying to figure out a way to get our house back. We don't have much money due to our situation because I recently got a regular income/benefits job. I've contact the REO to get a purchase price for our house but the bank doesn not have one so since the current principal balance is 283,721 I offered them less (instructed by another company to put something on the table to see what they come back with)Our lender is was Ocwen Loan Servicing and the bank is Wachovia. We received a summons to appear in court on January 31, 2008. In the mean time we filed a stay of execution in order to make some kind of agreement to pay occupancy until we found an apartment and the next court date was scheduled for February 14, 2008. During this time I received a letter from the bank's attorney indicating that at the foreclosure auction the bank sold the property to US National Bank Association for 279,900.I then contacted an attorney for advice and was instructed to file a'Motion to Vacate Judgement' because the previous bank which was Wachovia had retained attorney's to proceed with the eviction process when in reality the new owners were US Nationalk Bank Association. I then went to the Registry of Deeds to verify that the property was sold to another bank and sure enough Ocwen Loan Servicing/Wachovia sold it to US National Bank. The attorney I had spoken to contacted the law firm representing Wachovia bank to inform them that we were in the process of filing a 'Motion to Vacate the Judgement' based on their representation of a bank which no longer holds any ownership.The attorney representing Ocwen Loan servicing/Wachovia bank called her right back and filed a motion to the court to continue the summary process until March 6, 2008. He claims that he was unaware that the bank sold the property and to date we have not been contacted from the new owner of the property regarding our plans or to even put together some kind of agreement. I am a ameteur to this kind to legal stuff but I don't think that the attorney's who are representing Wachovia bank/Ocwen loan servicing has the legal right to pursue eviction when their client no longer has any ownership of the property.I don't know if sending this email to you will help us any but I think that something illegal is going on and I know that our home has been foreclosed on but if the bank in going to evict us then it should be done in a legal fashion. Thank you for you time.
MichelleBrockton, MassachusettsU.S.A.
Here is our situation, We are victims of a 'Hate Crime' against my famil which took place in our neighborhood. With grand jury indictments and courts we are physically and mentally stressed out. We both lost our jobs, house went into foreclosure, bank know owns the house and they transferred it over to the REO department (Realestate Owned). We are still in the house trying to figure out a way to get our house back. We don't have much money due to our situation because I recently got a regular income/benefits job. I've contact the REO to get a purchase price for our house but the bank doesn not have one so since the current principal balance is 283,721 I offered them less (instructed by another company to put something on the table to see what they come back with)Our lender is was Ocwen Loan Servicing and the bank is Wachovia. We received a summons to appear in court on January 31, 2008. In the mean time we filed a stay of execution in order to make some kind of agreement to pay occupancy until we found an apartment and the next court date was scheduled for February 14, 2008. During this time I received a letter from the bank's attorney indicating that at the foreclosure auction the bank sold the property to US National Bank Association for 279,900.I then contacted an attorney for advice and was instructed to file a'Motion to Vacate Judgement' because the previous bank which was Wachovia had retained attorney's to proceed with the eviction process when in reality the new owners were US Nationalk Bank Association. I then went to the Registry of Deeds to verify that the property was sold to another bank and sure enough Ocwen Loan Servicing/Wachovia sold it to US National Bank. The attorney I had spoken to contacted the law firm representing Wachovia bank to inform them that we were in the process of filing a 'Motion to Vacate the Judgement' based on their representation of a bank which no longer holds any ownership.The attorney representing Ocwen Loan servicing/Wachovia bank called her right back and filed a motion to the court to continue the summary process until March 6, 2008. He claims that he was unaware that the bank sold the property and to date we have not been contacted from the new owner of the property regarding our plans or to even put together some kind of agreement. I am a ameteur to this kind to legal stuff but I don't think that the attorney's who are representing Wachovia bank/Ocwen loan servicing has the legal right to pursue eviction when their client no longer has any ownership of the property.I don't know if sending this email to you will help us any but I think that something illegal is going on and I know that our home has been foreclosed on but if the bank in going to evict us then it should be done in a legal fashion. Thank you for you time.
MichelleBrockton, MassachusettsU.S.A.
Monday, February 18, 2008
Hon. Christopher F. Droney-Ocwen Hon. Christopher F. Droney/Ocwen. Victims of Ocwen are now being further victimized by our own judicial system.
Hon. Christopher F. Droney-Ocwen Hon. Christopher F. Droney/Ocwen. Victims of Ocwen are now being further victimized by our own judicial system. How to wake up a “Sleeping Judge" in one easy step Hartford Connecticut
From: http://www.ripoffreport.com/reports/0/066/RipOff0066969.htm
What can citizens in America do when our own Federal Courts create victims? That seems to be the case right now in U.S. District Court, District of Connecticut Case # 02-CV-960. This is the Hanson v Ocwen case which is, in my humble opinion, being mishandled very badly by the sitting judge, Christopher F. Droney.First, Judge Droney denied the preliminary injunction that would have allowed plaintiffs freedom from abuse by Ocwen while this matter is considered in the court. That is, I suppose, the judge's prerogative, and if this case were being handled in a normal timeline for these cases, it would be almost over by now. However, it stagnates in the courtroom because this judge lets it! The average length of a case in Federal court is between twelve to sixteen months. We are at fifteen months, folks, and still it is a quagmire! It has not even really begun yet, let alone begun drawing to a close!I am sure that many people involved with this suit have lost their homes in the course of the last fifteen months to Ocwen. Therefore, with his policy of “inaction" Judge Droney is surely creating even more victims! There seems to be absolutely no other way to look at this debacle. Judges are not allowed to write law in America, nor are they allowed to obstruct it. What does Judge Droney think he is doing in that courtroom? There is no way he can claim to be SERVING justice!Judge Droney has become an impediment to justice rather than an instrument of justice!Judge Droney has been asked twice to excuse himself from this case and has twice refused. Why? He certainly seems in no hurry to try this case. He will not let go, nor will he let it move forward. This makes no sense to me and is uncommon behavior for a Federal Judge. He is, in my mind, guilty of judicial misconduct according to the following guidelines:What Is Judicial Misconduct? (The following quote is a “cut and paste" and has not been altered in any way)“The Judicial Councils Reform and Judicial Conduct and Disabilities Act of 1980 (Section 372 of Title 28 of the United States Code) says it is 'conduct prejudicial to the effective expeditious administration of the business of the courts.' Courts have interpreted this to include fraudulent, corrupt, immoral, illegal and dishonest behavior and any physical or mental incapacity to carry out judicial duties. This means a judge who repeatedly commits wrongful acts knowing that they violate a rule of law or standard of behavior can be disciplined. For example, a judge who makes repeated racial slurs against litigants can be found guilty of misconduct. A judge found to have a serious mental or physical handicap that interferes in the performance of judicial duties is usually asked to retire or removed from office. However, if you think the judge has made a mistake during your trial or decided your case wrong, you probably won't succeed in getting the judge investigated for misconduct unless you can prove malice or a repeated pattern of bias or incompetence."I cannot speak for Judge Droney's competence or lack thereof, but I can speak of conduct prejudicial to effective expeditious administration of the business of the courts. It is all here in the PACER printout! Fifteen months of foot-dragging, lollygagging, and plain old farting around. This case has gone beyond “expeditious" any way it is looked at!A repeated pattern of bias seems evident in the fact that Judge Droney seems to like to grant his former associates, Ocwen's attorneys, every motion filed and deny most of Hanson's attorneys' motions.Judge Droney's behavior was certainly dishonest when he failed to reveal his former association with Ocwen counsel.Here are some links to sites that explain conduct expected of judges in this country:Rules and guidelines governing judicial behavior (short form)http://www.newshare.com/west/guidelines.htmlCODE OF CONDUCT FOR UNITED STATES JUDGES (long form w/commentary)http://www.uscourts.gov/guide/vol2/ch1.htmlThis is enlightening reading; I would recommend it to everyone. Draw your own conclusions as to whether judicial conduct has been breached in the Hanson v Ocwen matter. If you feel it has, this link will take you to the complaint procedures for filing a formal complaint in the Second Circuit (where this case is stagnating):RULES OF THE JUDICIAL COUNCIL OF THESECOND CIRCUIT GOVERNING COMPLAINTS AGAINSTJUDICIAL OFFICERS UNDER 28 U.S.C. § 372(c)https://www.tourolaw.edu/2ndCircuit/rules/PartE.htm(Keep in mind that these procedures must be followed to the letter or the complaint goes into the trash. Be sure to send the correct number of copies, etc.) Each complaint receives a docket number and is filed. Any complaints filed against a U.S. Judge remain on his/her record. The complaint record can have a great bearing later on if a judge should receive a Supreme Court nomination. (God save us all from this kind of hanky-panky in our highest court!) If Judge Droney wants to play now, he may pay later. While researching what steps can be taken by average Americans in cases like this, I came upon an amazing discovery. It has become more common than I ever wanted to know for Federal Judges to try cases that they have a financial interest in without disclosing that interest! Since this judge has already failed once to disclose pertinent information, what might prevent him from failing to disclose other things?Links to a series by the Kansas City Star that “tells all" about this situation. It is called “On their Honor: Judges and their Assets". Read it and weep for justice in America:http://www.kcstar.com/judges/There IS a way to find out if there is more to this story than we have been told. Anyone in America can request this asset and investment information about any judge. It is called: REQUEST FOR EXAMINATION OF REPORT FILED BY A JUDICIAL OFFICER OR JUDICIAL EMPLOYEE (Form AO-10a) .20 cents per pagehttp://www.uscourts.gov/forms/AO010a.pdfThis PDF form can be filled out right on your computer and then printed out for mailing. Keep in mind that there is a twenty-cent per page charge for these documents and that the judge will be notified as to who is requesting his records. In fact, he will know that you requested them before you even get them. So what? If he has nothing to hide, this should not be of concern to him.And there may be even more affecting what goes on in this particular courtroom. In the course of all this research, I ran across even more interesting reading from the Hartford Courant. This story concerns Paul J. Silvester, former Connecticut State Treasurer, now convicted and imprisoned. This story came up when I searched the name “Droney" so I kept reading it (and reading it and reading it). It is a long saga of bribery, kickbacks, racketeering, and general corruption of politicians.Finally, in the article dated July 27, 2003 (the last article in the series) I found why the search turned up this series of articles. The name John F. Droney is mentioned in an article entitled “Politics and Piggishness".John F. Droney is our own Judge Droney's brother. John Droney is a Democratic party bigwig in Connecticut. Christopher Droney was appointed to his position by Bill Clinton, a Democratic president. Federal judicial appointments tend to be highly politically motivated, as anyone who follows the news knows. Ocwen is known to be a big supporter of the Democratic party. Sounds like a whole lot of Democrats in a big wad to me. Political agendas do NOT belong in a courtroom.Here is the url that will take you to the series of articles in the Hartford Courant. Read them and, again, you can draw your own conclusions:http://www.ctnow.com/news/local/hc-silvester-sg,0,7156222.storygallery?coll=hc-headlines-local-7dayWho knows if the Connecticut scandal has any bearing? But who knows if it does NOT? No one knows what goes on in Judge Droney's mind except Judge Droney and he isn't telling…or moving along…or anything. Perhaps someone should hold a mirror under his nose!U.S. District Judges are paid $154,700 per year. That is a lot of money to a peon like myself. Americans have a right to demand return for their hard-earned dollars. We are NOT getting it here!Judge Droney's behavior is becoming so blatant that it is becoming very difficult to overlook it. There is an obvious bias and prejudice at work here. I want to know why and what is causing it. This case is not being held behind locked doors or in a vacuum; it is in a United States District Court. Americans have a right to demand accountability. There needs to be some explaining done here and soon.Ocwen victims have had to endure fifteen more months of being terrorized by their so-called servicing company. No telling how many have lost their homes during this period. No telling how many prescriptions for nerve pills have been written. This is NOT justice and I hope that all of the victims of Ocwen will look into matters. It is your right as an American. Do not take this anymore. Get the financial records; file complaints. Now you not only have to save yourselves from Ocwen, you have to save yourselves from a travesty of justice in a United States District Court! But, for those of you who “cut your legal teeth" fighting Ocwen, opposing this judge will not be a difficult matter in comparison.No one thought that the battle with Ocwen would be easy; a big “THANK YOU" to Judge C.F. Droney for making it twice as hard! You should be ashamed of yourself, Judge Droney, for falling flat on your face and making a farce of your duty and our court system.
RobinWaldron, ArkansasU.S.A.
From: http://www.ripoffreport.com/reports/0/066/RipOff0066969.htm
What can citizens in America do when our own Federal Courts create victims? That seems to be the case right now in U.S. District Court, District of Connecticut Case # 02-CV-960. This is the Hanson v Ocwen case which is, in my humble opinion, being mishandled very badly by the sitting judge, Christopher F. Droney.First, Judge Droney denied the preliminary injunction that would have allowed plaintiffs freedom from abuse by Ocwen while this matter is considered in the court. That is, I suppose, the judge's prerogative, and if this case were being handled in a normal timeline for these cases, it would be almost over by now. However, it stagnates in the courtroom because this judge lets it! The average length of a case in Federal court is between twelve to sixteen months. We are at fifteen months, folks, and still it is a quagmire! It has not even really begun yet, let alone begun drawing to a close!I am sure that many people involved with this suit have lost their homes in the course of the last fifteen months to Ocwen. Therefore, with his policy of “inaction" Judge Droney is surely creating even more victims! There seems to be absolutely no other way to look at this debacle. Judges are not allowed to write law in America, nor are they allowed to obstruct it. What does Judge Droney think he is doing in that courtroom? There is no way he can claim to be SERVING justice!Judge Droney has become an impediment to justice rather than an instrument of justice!Judge Droney has been asked twice to excuse himself from this case and has twice refused. Why? He certainly seems in no hurry to try this case. He will not let go, nor will he let it move forward. This makes no sense to me and is uncommon behavior for a Federal Judge. He is, in my mind, guilty of judicial misconduct according to the following guidelines:What Is Judicial Misconduct? (The following quote is a “cut and paste" and has not been altered in any way)“The Judicial Councils Reform and Judicial Conduct and Disabilities Act of 1980 (Section 372 of Title 28 of the United States Code) says it is 'conduct prejudicial to the effective expeditious administration of the business of the courts.' Courts have interpreted this to include fraudulent, corrupt, immoral, illegal and dishonest behavior and any physical or mental incapacity to carry out judicial duties. This means a judge who repeatedly commits wrongful acts knowing that they violate a rule of law or standard of behavior can be disciplined. For example, a judge who makes repeated racial slurs against litigants can be found guilty of misconduct. A judge found to have a serious mental or physical handicap that interferes in the performance of judicial duties is usually asked to retire or removed from office. However, if you think the judge has made a mistake during your trial or decided your case wrong, you probably won't succeed in getting the judge investigated for misconduct unless you can prove malice or a repeated pattern of bias or incompetence."I cannot speak for Judge Droney's competence or lack thereof, but I can speak of conduct prejudicial to effective expeditious administration of the business of the courts. It is all here in the PACER printout! Fifteen months of foot-dragging, lollygagging, and plain old farting around. This case has gone beyond “expeditious" any way it is looked at!A repeated pattern of bias seems evident in the fact that Judge Droney seems to like to grant his former associates, Ocwen's attorneys, every motion filed and deny most of Hanson's attorneys' motions.Judge Droney's behavior was certainly dishonest when he failed to reveal his former association with Ocwen counsel.Here are some links to sites that explain conduct expected of judges in this country:Rules and guidelines governing judicial behavior (short form)http://www.newshare.com/west/guidelines.htmlCODE OF CONDUCT FOR UNITED STATES JUDGES (long form w/commentary)http://www.uscourts.gov/guide/vol2/ch1.htmlThis is enlightening reading; I would recommend it to everyone. Draw your own conclusions as to whether judicial conduct has been breached in the Hanson v Ocwen matter. If you feel it has, this link will take you to the complaint procedures for filing a formal complaint in the Second Circuit (where this case is stagnating):RULES OF THE JUDICIAL COUNCIL OF THESECOND CIRCUIT GOVERNING COMPLAINTS AGAINSTJUDICIAL OFFICERS UNDER 28 U.S.C. § 372(c)https://www.tourolaw.edu/2ndCircuit/rules/PartE.htm(Keep in mind that these procedures must be followed to the letter or the complaint goes into the trash. Be sure to send the correct number of copies, etc.) Each complaint receives a docket number and is filed. Any complaints filed against a U.S. Judge remain on his/her record. The complaint record can have a great bearing later on if a judge should receive a Supreme Court nomination. (God save us all from this kind of hanky-panky in our highest court!) If Judge Droney wants to play now, he may pay later. While researching what steps can be taken by average Americans in cases like this, I came upon an amazing discovery. It has become more common than I ever wanted to know for Federal Judges to try cases that they have a financial interest in without disclosing that interest! Since this judge has already failed once to disclose pertinent information, what might prevent him from failing to disclose other things?Links to a series by the Kansas City Star that “tells all" about this situation. It is called “On their Honor: Judges and their Assets". Read it and weep for justice in America:http://www.kcstar.com/judges/There IS a way to find out if there is more to this story than we have been told. Anyone in America can request this asset and investment information about any judge. It is called: REQUEST FOR EXAMINATION OF REPORT FILED BY A JUDICIAL OFFICER OR JUDICIAL EMPLOYEE (Form AO-10a) .20 cents per pagehttp://www.uscourts.gov/forms/AO010a.pdfThis PDF form can be filled out right on your computer and then printed out for mailing. Keep in mind that there is a twenty-cent per page charge for these documents and that the judge will be notified as to who is requesting his records. In fact, he will know that you requested them before you even get them. So what? If he has nothing to hide, this should not be of concern to him.And there may be even more affecting what goes on in this particular courtroom. In the course of all this research, I ran across even more interesting reading from the Hartford Courant. This story concerns Paul J. Silvester, former Connecticut State Treasurer, now convicted and imprisoned. This story came up when I searched the name “Droney" so I kept reading it (and reading it and reading it). It is a long saga of bribery, kickbacks, racketeering, and general corruption of politicians.Finally, in the article dated July 27, 2003 (the last article in the series) I found why the search turned up this series of articles. The name John F. Droney is mentioned in an article entitled “Politics and Piggishness".John F. Droney is our own Judge Droney's brother. John Droney is a Democratic party bigwig in Connecticut. Christopher Droney was appointed to his position by Bill Clinton, a Democratic president. Federal judicial appointments tend to be highly politically motivated, as anyone who follows the news knows. Ocwen is known to be a big supporter of the Democratic party. Sounds like a whole lot of Democrats in a big wad to me. Political agendas do NOT belong in a courtroom.Here is the url that will take you to the series of articles in the Hartford Courant. Read them and, again, you can draw your own conclusions:http://www.ctnow.com/news/local/hc-silvester-sg,0,7156222.storygallery?coll=hc-headlines-local-7dayWho knows if the Connecticut scandal has any bearing? But who knows if it does NOT? No one knows what goes on in Judge Droney's mind except Judge Droney and he isn't telling…or moving along…or anything. Perhaps someone should hold a mirror under his nose!U.S. District Judges are paid $154,700 per year. That is a lot of money to a peon like myself. Americans have a right to demand return for their hard-earned dollars. We are NOT getting it here!Judge Droney's behavior is becoming so blatant that it is becoming very difficult to overlook it. There is an obvious bias and prejudice at work here. I want to know why and what is causing it. This case is not being held behind locked doors or in a vacuum; it is in a United States District Court. Americans have a right to demand accountability. There needs to be some explaining done here and soon.Ocwen victims have had to endure fifteen more months of being terrorized by their so-called servicing company. No telling how many have lost their homes during this period. No telling how many prescriptions for nerve pills have been written. This is NOT justice and I hope that all of the victims of Ocwen will look into matters. It is your right as an American. Do not take this anymore. Get the financial records; file complaints. Now you not only have to save yourselves from Ocwen, you have to save yourselves from a travesty of justice in a United States District Court! But, for those of you who “cut your legal teeth" fighting Ocwen, opposing this judge will not be a difficult matter in comparison.No one thought that the battle with Ocwen would be easy; a big “THANK YOU" to Judge C.F. Droney for making it twice as hard! You should be ashamed of yourself, Judge Droney, for falling flat on your face and making a farce of your duty and our court system.
RobinWaldron, ArkansasU.S.A.
Thursday, February 14, 2008
From Comments, Sound Familiar
I too am having a terrible time with Ocwen! I have recently filed complaints with both the Federal and State Government Agencies. We were not receiving statements from them for over 1 year. No notice of rate increase nothing!! Every month, on time, we paid the same mortgage payment by moneygram and every month on those slip and by phone call we informed them of the same thing - no statements had been received by us for over 1 year. Still nothing. Until we received a certified letter from them, saying we were in default for a couple of months, as we had not made the payment that had increased. When you try and call, you can't understand them, no offense, but the call goes to India and they can't understand you and you can't understand them. Nothing gets accomplished!! No help!!! I want some help in this!!!!!!!!!!!!! I want the Government to step in!
Ocwen Loan Servicing My wife and I filed Bankruptcy in June 2003 the case was discharged Sept 2003. Ocwen has never acknowledged the Bankruptcy.
From: http://www.ripoffreport.com/reports/0/308/RipOff0308580.htm
When attempting to contact Ocwen,at any of their many phone numbers, they put you on hold until the line finally goes dead,or they connect you to a non-english speaking person who you can't understand and pretends he or she can't understand you. they then offer, in their broken english, all the different ways you can make payments. The company will not answer any mail I send them or any of my E-mails,yet every month I get a 'notice of intent to collect a debt' from them telling me how far behind I am in payments.Now they are telling me that they have put a insurance policy on the house and sent me a premium notice of $1,165.00 for the first year. They act like they are a separate entity answering only to themselves and completely oblivious to the laws of the land. They refuse to contact my attorney or to even take back their property,so now the house just sits there and benefits no one while they play their little mind games.
BigdogCanton, OhioU.S.A.
When attempting to contact Ocwen,at any of their many phone numbers, they put you on hold until the line finally goes dead,or they connect you to a non-english speaking person who you can't understand and pretends he or she can't understand you. they then offer, in their broken english, all the different ways you can make payments. The company will not answer any mail I send them or any of my E-mails,yet every month I get a 'notice of intent to collect a debt' from them telling me how far behind I am in payments.Now they are telling me that they have put a insurance policy on the house and sent me a premium notice of $1,165.00 for the first year. They act like they are a separate entity answering only to themselves and completely oblivious to the laws of the land. They refuse to contact my attorney or to even take back their property,so now the house just sits there and benefits no one while they play their little mind games.
BigdogCanton, OhioU.S.A.
Wednesday, February 13, 2008
OCWEN Loan Servicing Fraud and Harrassment Orlando Florida
From: http://www.ripoffreport.com/reports/0/308/RipOff0308798.htm
I have had dealings with mortgage lenders in the past but dealing with OCWEN is horrible.When I purchased my home in 2006, my loan was sold off to OCWEN after a few months. About two months later the problems with OCWEN started. They claimed that they did not have documentation showing that I had homeowners insurance. I called them immediately. The person I spoke to had trouble understanding and spoke broken english. I explained to them that I do have insurance and I will fax them a copy. After faxing it 3 times and sending a copy by certified mail, they finally received it. I spent at least 3 hours on the phone over a 3 week period trying to get them a copy of my insurance information.In early 2007 the drama continued. Taxes were due and I thought by having an impound account I would not have to worry about my taxes getting paid.Well, with OCWEN it appears you have to worry about everything and you are never at ease as long as you do business with them. I forwarded several tax bills that were due because they claimed they did not receive the bills (by the way, the tax department is a not part of OCWEN, at least that's what they claim) After faxing the bills in February and sending the bills by mail they were not paid and late fees on my property taxes began to accumilate. I spent at least a total of 4 hours talking to OCWEN, faxing OCWEN, mailing OCWEN, in an effort to get these taxes paid. They finally paid the tax bills in April. They took late fees out of my impound account and never reimbursed me after they told that they are responsible for the late fees.Now we are in 2008 and taxes are due again. As soon as the bills came I sent them certified mail. I tried to fax the bills also but after several attempts to fax from home and several attempts to fax from Office Depot the line was always busy so I gave up. At this point I dreaded the worst, my taxes probably have not been paid and I will have to go through the same process as last year.Currently I am receiving two calls a day from OCWEN regarding my mortgage payment which has never been late. I recently called to ask them to put me on their do not call list because they have no reason to call me my account is current and I am never late, the CSR said she would remove me, but the calls have not stopped.I would like desparately to get out of this loan with OCWEN, it has been very stressful and time consuming dealing with such a inept company. After reading all these stories I am concerned about my well being.
AlHouston, TexasU.S.A.
I have had dealings with mortgage lenders in the past but dealing with OCWEN is horrible.When I purchased my home in 2006, my loan was sold off to OCWEN after a few months. About two months later the problems with OCWEN started. They claimed that they did not have documentation showing that I had homeowners insurance. I called them immediately. The person I spoke to had trouble understanding and spoke broken english. I explained to them that I do have insurance and I will fax them a copy. After faxing it 3 times and sending a copy by certified mail, they finally received it. I spent at least 3 hours on the phone over a 3 week period trying to get them a copy of my insurance information.In early 2007 the drama continued. Taxes were due and I thought by having an impound account I would not have to worry about my taxes getting paid.Well, with OCWEN it appears you have to worry about everything and you are never at ease as long as you do business with them. I forwarded several tax bills that were due because they claimed they did not receive the bills (by the way, the tax department is a not part of OCWEN, at least that's what they claim) After faxing the bills in February and sending the bills by mail they were not paid and late fees on my property taxes began to accumilate. I spent at least a total of 4 hours talking to OCWEN, faxing OCWEN, mailing OCWEN, in an effort to get these taxes paid. They finally paid the tax bills in April. They took late fees out of my impound account and never reimbursed me after they told that they are responsible for the late fees.Now we are in 2008 and taxes are due again. As soon as the bills came I sent them certified mail. I tried to fax the bills also but after several attempts to fax from home and several attempts to fax from Office Depot the line was always busy so I gave up. At this point I dreaded the worst, my taxes probably have not been paid and I will have to go through the same process as last year.Currently I am receiving two calls a day from OCWEN regarding my mortgage payment which has never been late. I recently called to ask them to put me on their do not call list because they have no reason to call me my account is current and I am never late, the CSR said she would remove me, but the calls have not stopped.I would like desparately to get out of this loan with OCWEN, it has been very stressful and time consuming dealing with such a inept company. After reading all these stories I am concerned about my well being.
AlHouston, TexasU.S.A.
OCWEN FEDERAL BANK ABSOLUTE SCAM COMPANY Orlando Florida
From: http://www.ripoffreport.com/reports/0/308/RipOff0308575.htm
Our home loan was sold in the secondary market to OCWEN. We have never been late on a payment yet they reported a 30-day late. About this time our ARM doubled in payment due to reset which we had anticipated. We sent them proffo that they had indeed received our payment and cashed it but they refused to remove the credit ding. We got our attorney involved and then they said they could not do anything because my wife's social security number was wrong, which it was not (how could they report to the credit burueau if it was wrong?). After four months is is apparent they do not want us refinancing. They are unresponsive, rude, and evasive. They should not be in business, jail probably best suits them.Another victimSt George, UtahU.S.A.
Our home loan was sold in the secondary market to OCWEN. We have never been late on a payment yet they reported a 30-day late. About this time our ARM doubled in payment due to reset which we had anticipated. We sent them proffo that they had indeed received our payment and cashed it but they refused to remove the credit ding. We got our attorney involved and then they said they could not do anything because my wife's social security number was wrong, which it was not (how could they report to the credit burueau if it was wrong?). After four months is is apparent they do not want us refinancing. They are unresponsive, rude, and evasive. They should not be in business, jail probably best suits them.Another victimSt George, UtahU.S.A.
Tuesday, February 12, 2008
Ocwen Financial, Yet Another Case Of A Total Scam. Ocwen Scam housing West Palm Beach Florida
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.
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.
A Lifeline In The Mortgage Mess
From: http://www.forbes.com/business/2008/02/12/mortgages-congress-bush-biz-beltway-cx_bw_0212mortgage.html
Tuesday, the Treasury Department, the Department of Housing and Urban Development and six mortgage servicers announced a plan that would give seriously delinquent borrowers a 30-day reprieve from looming foreclosures so they can renegotiate the terms of their loans.
It comes just over two months after the administration unveiled a separate program to freeze "teaser" rates on some adjustable-rate mortgages. The move was put in place to prevent 1.2 million mortgages from resetting to higher rates and putting borrowers in greater danger of foreclosure.
That plan was widely criticized because it didn't provide assistance to borrowers already in default on their loans. The plan announced Tuesday, called "Project Lifeline," fixes that problem, sort of--it helps borrowers three months in arrears. But it's also got some kinks of its own.
Primarily, it doesn't guarantee borrowers assistance. Under the plan, six major loan servicers--Countrywide Financial (nyse: CFC - news - people ), Bank of America (nyse: BAC - news - people ), Citigroup (nyse: C - news - people ), JPMorgan Chase (nyse: JPM - news - people ), Wells Fargo (nyse: WFC - news - people ) and Washington Mutual (nyse: WM - news - people )--will send out letters to borrowers who are at least 90 days past due to let them know their loan is being considered for the 30 day "pause." (This is not a moratorium). Borrowers have 10 days to respond.
Borrowers' situations will be handled on a case-by-case basis, and for this reason, the administration doesn't know how many borrowers will be affected, though the number is expected to be in the "hundreds of thousands." And while the plan includes subprime, prime and home equity loans, it leaves out those that are in active bankruptcy, those that are in active foreclosure with the sale date 30 days away, investment properties and vacant homes.
In addition, the plan does not alter the outstanding loan amount. It simply allows the repayment terms to be altered.
The idea behind Project Lifeline is not new. If mortgage servicers wish, they are free to renegotiate the terms of any borrowers' loan at any time. The current plan, however, is the first time major industry players have worked in concert to stall foreclosures on seriously delinquent loans. The six firms account for about 50% of all U.S. mortgages, and they are all part of an administration-backed private-sector alliance to lessen the damage caused by the subprime crisis, known as HOPE NOW.
The administration appears to be earnest in helping borrowers. A spate of mass foreclosures--which no one on either side of the aisle wants--does nothing to buoy the economy. The White House predicts the economy will rebound in the second half of 2008. It's better to look busy now than to be accused in November of not acting at all.
But so far, the Bush administration's efforts have been met with political opposition.
The National Community Reinvestment Coalition (NCRC), a group of about 600 community organizations, has proposed that the federal government buy securitized loans at a discount. At that point, the terms could be renegotiated with the input of the private sector.
John Taylor, NCRC's president and chief executive officer, says the government waited too long to react, failing to realize that the mortgage meltdown was more than just an aberration that would be corrected by the markets. "It's a classic case of tripping over your ideology," he says.
Senate Banking Committee Chairman Chris Dodd, D-Conn., blasted Project Lifeline: "This plan, while a step in the right direction, will not stem the tide of the millions of foreclosures we are facing in the coming months," he said.
His proposal: The government should set up a company to buy the loans and readjust their terms. Good luck there--the time involved with creating a new government entity is anyone's guess. And the cost? Yikes.
Tuesday, the Treasury Department, the Department of Housing and Urban Development and six mortgage servicers announced a plan that would give seriously delinquent borrowers a 30-day reprieve from looming foreclosures so they can renegotiate the terms of their loans.
It comes just over two months after the administration unveiled a separate program to freeze "teaser" rates on some adjustable-rate mortgages. The move was put in place to prevent 1.2 million mortgages from resetting to higher rates and putting borrowers in greater danger of foreclosure.
That plan was widely criticized because it didn't provide assistance to borrowers already in default on their loans. The plan announced Tuesday, called "Project Lifeline," fixes that problem, sort of--it helps borrowers three months in arrears. But it's also got some kinks of its own.
Primarily, it doesn't guarantee borrowers assistance. Under the plan, six major loan servicers--Countrywide Financial (nyse: CFC - news - people ), Bank of America (nyse: BAC - news - people ), Citigroup (nyse: C - news - people ), JPMorgan Chase (nyse: JPM - news - people ), Wells Fargo (nyse: WFC - news - people ) and Washington Mutual (nyse: WM - news - people )--will send out letters to borrowers who are at least 90 days past due to let them know their loan is being considered for the 30 day "pause." (This is not a moratorium). Borrowers have 10 days to respond.
Borrowers' situations will be handled on a case-by-case basis, and for this reason, the administration doesn't know how many borrowers will be affected, though the number is expected to be in the "hundreds of thousands." And while the plan includes subprime, prime and home equity loans, it leaves out those that are in active bankruptcy, those that are in active foreclosure with the sale date 30 days away, investment properties and vacant homes.
In addition, the plan does not alter the outstanding loan amount. It simply allows the repayment terms to be altered.
The idea behind Project Lifeline is not new. If mortgage servicers wish, they are free to renegotiate the terms of any borrowers' loan at any time. The current plan, however, is the first time major industry players have worked in concert to stall foreclosures on seriously delinquent loans. The six firms account for about 50% of all U.S. mortgages, and they are all part of an administration-backed private-sector alliance to lessen the damage caused by the subprime crisis, known as HOPE NOW.
The administration appears to be earnest in helping borrowers. A spate of mass foreclosures--which no one on either side of the aisle wants--does nothing to buoy the economy. The White House predicts the economy will rebound in the second half of 2008. It's better to look busy now than to be accused in November of not acting at all.
But so far, the Bush administration's efforts have been met with political opposition.
The National Community Reinvestment Coalition (NCRC), a group of about 600 community organizations, has proposed that the federal government buy securitized loans at a discount. At that point, the terms could be renegotiated with the input of the private sector.
John Taylor, NCRC's president and chief executive officer, says the government waited too long to react, failing to realize that the mortgage meltdown was more than just an aberration that would be corrected by the markets. "It's a classic case of tripping over your ideology," he says.
Senate Banking Committee Chairman Chris Dodd, D-Conn., blasted Project Lifeline: "This plan, while a step in the right direction, will not stem the tide of the millions of foreclosures we are facing in the coming months," he said.
His proposal: The government should set up a company to buy the loans and readjust their terms. Good luck there--the time involved with creating a new government entity is anyone's guess. And the cost? Yikes.
Some Good News, We Hope: Feds to Unveil New Mortgage-Help Plan
From: http://ap.google.com/article/ALeqM5iPpplpVSr2ixU2laMGwo2QnmANHQD8UOMNB80
By MARCY GORDON – 3 hours ago
WASHINGTON (AP) — At-risk borrowers with all types of mortgages, not just high-cost subprime loans, could be eligible for help under a new plan involving six big home lenders. The plan, called Project Lifeline, will be announced Tuesday by the Treasury Department and the Department of Housing and Urban Development, said a person familiar with the plan who confirmed earlier news reports about the plan but spoke on condition of anonymity because it had not yet been made public.
Against a backdrop of surging defaults and administration officials' prodding of the mortgage industry, the plan will allow seriously overdue homeowners to suspend foreclosures for 30 days while lenders try to work out more affordable loan terms.
On a pilot basis, the plan will involve six of the largest mortgage lenders, in hopes that more lenders will sign on. The participants are Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMorgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co.
All six are involved in Hope Now, an effort the Bush administration brokered with the mortgage industry late last year to freeze rates on some high-cost subprime mortgages for five years to aid borrowers whose teaser rates are jumping sharply higher. Since then, Treasury Secretary Henry Paulson has urged lenders to expand that effort to cover struggling homeowners with conventional mortgages.
The new plan applies to seriously delinquent homeowners, those whose mortgages are 90 days or more past due.
With home prices falling, even some people with good credit have gotten behind on their payments. Like many subprime borrowers, they signed up for adjustable-rate mortgages that allowed them to make smaller, steady payments for several years until a higher fluctuating interest rate kicked in.
Some borrowed against their rising equity as home prices climbed, assuming they would be able to refinance or sell their homes before the higher payments began. But as prices have plummeted, many homeowners now owe more than their home is worth, and banks have tightened their lending practices, leaving even people with stellar credit struggling with higher payments.
The Hope Now alliance, which includes lenders, investors and nonprofit groups, said last week that it helped nearly 8 percent of subprime borrowers in the second half of 2007 — more than its original estimate.
The group said it helped 545,000 subprime borrowers with spotty credit in the second half of last year, compared with its January estimate of 370,000. That works out to 7.7 percent of 7.1 million subprime loans outstanding as of September.
Among the subprime borrowers aided, 150,000 were helped through permanent-loan modifications, such as lower interest rates, while 395,000 negotiated repayment plans, which often involve a borrower getting back on track even after missing a few payments.
Consumer groups, however, point out that many borrowers still can't keep up, even after loan workouts. They say many of the borrowers in the Hope Now effort have negotiated short-term loan modifications or repayment plans, which often involve a borrower getting back on track after missing a few payments. A full-fledged refinancing at a lower rate is preferable, they say.
From: http://online.wsj.com/article/SB120276908653960265.html?mod=googlenews_wsj
Lenders Step Up Effort to Avert Foreclosures
By DAMIAN PALETTA and JAMES R. HAGERTYFebruary 12, 2008; Page A3
Prodded by the Bush administration, six major mortgage lenders are due to announce today a stepped-up effort to rescue homeowners on the brink of foreclosure.
Under the latest plan, dubbed Project Lifeline, the lenders promise to seek contact with homeowners who are 90 or more days overdue on their mortgages. In some cases, homeowners will be given the chance to "pause" their foreclosure for 30 days while lenders try to work out a way to make the loans affordable. Lenders could begin sending letters to these borrowers as soon as this week.
Homeowners wouldn't qualify for the program if they are in bankruptcy, if they already have a foreclosure date within 30 days or if the loan was for an investment or vacant property.
Unlike the plan announced in December to freeze interest rates at current levels on certain adjustable-rate loans, this latest effort is to involve all kinds of home loans, not just subprime mortgages, a higher-cost variety for people with blemished credit records or high debt in relation to income.
The participating banks, which service about half of the U.S. mortgage market, are Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., J.P. Morgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co. -- all members of the so-called Hope Now Alliance. They are working with the U.S. Treasury and Department of Housing and Urban Development. Those two departments scheduled a briefing on the plan for 11:15 a.m. today. The plan was reported yesterday by the Reuters News Service.
Almost immediately after the Bush administration announced the freeze plan in December for certain subprime borrowers, Treasury Secretary Henry Paulson indicated an interest in developing a strategy to address a broader range of distressed homeowners.
At least 1.3 million home-mortgage loans were either seriously delinquent or in foreclosure at the end of the third quarter, according to the Mortgage Bankers Association. Not all of those loans would qualify for the program, however.
Analysts at the investment-banking firm Lehman Brothers recently estimated that the number of foreclosures will surge to one million this year and next, about four times the 2007 level.
Some nonprofit groups that work with troubled borrowers say lenders have become more flexible in recent months in efforts to find ways for more borrowers to keep their homes. But they also say the industry needs to do more.
Martin Eakes, chief executive of the Center for Responsible Lending, a nonprofit research group based in Washington that frequently bashes the mortgage industry, said moves announced so far have been "baby steps." He said lenders should move more aggressively to reduce loan balances to current home values and make monthly payments affordable. He acknowledged, however, that servicers of loans -- the firms that collect payments and handle foreclosures -- face the risk of lawsuits from investors that own loans if those investors believe borrowers have been given overly generous terms.
Bruce Marks, chief executive of Neighborhood Assistance Corp. of America, a Boston-based nonprofit that works with distressed homeowners, dismissed Project Lifeline as a "PR stunt." He said it already should have been automatic for loan servicers to pause foreclosure proceedings for homeowners seeking to qualify for a more affordable loan.
Congressional Democrats also have grown increasingly hostile toward the Bush administration and lenders over the past several months, arguing that not enough is being done to prevent foreclosure. Mr. Paulson is scheduled to testify before the Senate Banking Committee Thursday, and Project Lifeline could help blunt criticism from lawmakers.
The latest initiative came as Countrywide announced a plan to work with the Association of Community Organizations for Reform Now, or Acorn, to seek alternatives to foreclosure for distressed borrowers.
By MARCY GORDON – 3 hours ago
WASHINGTON (AP) — At-risk borrowers with all types of mortgages, not just high-cost subprime loans, could be eligible for help under a new plan involving six big home lenders. The plan, called Project Lifeline, will be announced Tuesday by the Treasury Department and the Department of Housing and Urban Development, said a person familiar with the plan who confirmed earlier news reports about the plan but spoke on condition of anonymity because it had not yet been made public.
Against a backdrop of surging defaults and administration officials' prodding of the mortgage industry, the plan will allow seriously overdue homeowners to suspend foreclosures for 30 days while lenders try to work out more affordable loan terms.
On a pilot basis, the plan will involve six of the largest mortgage lenders, in hopes that more lenders will sign on. The participants are Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMorgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co.
All six are involved in Hope Now, an effort the Bush administration brokered with the mortgage industry late last year to freeze rates on some high-cost subprime mortgages for five years to aid borrowers whose teaser rates are jumping sharply higher. Since then, Treasury Secretary Henry Paulson has urged lenders to expand that effort to cover struggling homeowners with conventional mortgages.
The new plan applies to seriously delinquent homeowners, those whose mortgages are 90 days or more past due.
With home prices falling, even some people with good credit have gotten behind on their payments. Like many subprime borrowers, they signed up for adjustable-rate mortgages that allowed them to make smaller, steady payments for several years until a higher fluctuating interest rate kicked in.
Some borrowed against their rising equity as home prices climbed, assuming they would be able to refinance or sell their homes before the higher payments began. But as prices have plummeted, many homeowners now owe more than their home is worth, and banks have tightened their lending practices, leaving even people with stellar credit struggling with higher payments.
The Hope Now alliance, which includes lenders, investors and nonprofit groups, said last week that it helped nearly 8 percent of subprime borrowers in the second half of 2007 — more than its original estimate.
The group said it helped 545,000 subprime borrowers with spotty credit in the second half of last year, compared with its January estimate of 370,000. That works out to 7.7 percent of 7.1 million subprime loans outstanding as of September.
Among the subprime borrowers aided, 150,000 were helped through permanent-loan modifications, such as lower interest rates, while 395,000 negotiated repayment plans, which often involve a borrower getting back on track even after missing a few payments.
Consumer groups, however, point out that many borrowers still can't keep up, even after loan workouts. They say many of the borrowers in the Hope Now effort have negotiated short-term loan modifications or repayment plans, which often involve a borrower getting back on track after missing a few payments. A full-fledged refinancing at a lower rate is preferable, they say.
From: http://online.wsj.com/article/SB120276908653960265.html?mod=googlenews_wsj
Lenders Step Up Effort to Avert Foreclosures
By DAMIAN PALETTA and JAMES R. HAGERTYFebruary 12, 2008; Page A3
Prodded by the Bush administration, six major mortgage lenders are due to announce today a stepped-up effort to rescue homeowners on the brink of foreclosure.
Under the latest plan, dubbed Project Lifeline, the lenders promise to seek contact with homeowners who are 90 or more days overdue on their mortgages. In some cases, homeowners will be given the chance to "pause" their foreclosure for 30 days while lenders try to work out a way to make the loans affordable. Lenders could begin sending letters to these borrowers as soon as this week.
Homeowners wouldn't qualify for the program if they are in bankruptcy, if they already have a foreclosure date within 30 days or if the loan was for an investment or vacant property.
Unlike the plan announced in December to freeze interest rates at current levels on certain adjustable-rate loans, this latest effort is to involve all kinds of home loans, not just subprime mortgages, a higher-cost variety for people with blemished credit records or high debt in relation to income.
The participating banks, which service about half of the U.S. mortgage market, are Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., J.P. Morgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co. -- all members of the so-called Hope Now Alliance. They are working with the U.S. Treasury and Department of Housing and Urban Development. Those two departments scheduled a briefing on the plan for 11:15 a.m. today. The plan was reported yesterday by the Reuters News Service.
Almost immediately after the Bush administration announced the freeze plan in December for certain subprime borrowers, Treasury Secretary Henry Paulson indicated an interest in developing a strategy to address a broader range of distressed homeowners.
At least 1.3 million home-mortgage loans were either seriously delinquent or in foreclosure at the end of the third quarter, according to the Mortgage Bankers Association. Not all of those loans would qualify for the program, however.
Analysts at the investment-banking firm Lehman Brothers recently estimated that the number of foreclosures will surge to one million this year and next, about four times the 2007 level.
Some nonprofit groups that work with troubled borrowers say lenders have become more flexible in recent months in efforts to find ways for more borrowers to keep their homes. But they also say the industry needs to do more.
Martin Eakes, chief executive of the Center for Responsible Lending, a nonprofit research group based in Washington that frequently bashes the mortgage industry, said moves announced so far have been "baby steps." He said lenders should move more aggressively to reduce loan balances to current home values and make monthly payments affordable. He acknowledged, however, that servicers of loans -- the firms that collect payments and handle foreclosures -- face the risk of lawsuits from investors that own loans if those investors believe borrowers have been given overly generous terms.
Bruce Marks, chief executive of Neighborhood Assistance Corp. of America, a Boston-based nonprofit that works with distressed homeowners, dismissed Project Lifeline as a "PR stunt." He said it already should have been automatic for loan servicers to pause foreclosure proceedings for homeowners seeking to qualify for a more affordable loan.
Congressional Democrats also have grown increasingly hostile toward the Bush administration and lenders over the past several months, arguing that not enough is being done to prevent foreclosure. Mr. Paulson is scheduled to testify before the Senate Banking Committee Thursday, and Project Lifeline could help blunt criticism from lawmakers.
The latest initiative came as Countrywide announced a plan to work with the Association of Community Organizations for Reform Now, or Acorn, to seek alternatives to foreclosure for distressed borrowers.
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