• Report: #335325

Complaint Review: Ocwen Financial Services,Ocwen Bank,Ocwen Loan Servicing LLC

  • Submitted: Wed, May 28, 2008
  • Updated: Sat, May 09, 2009

  • Reported By:Moreno Valley California
Ocwen Financial Services,Ocwen Bank,Ocwen Loan Servicing LLC
12650 Ingenuity Drive. Orlando, Florida.12650 Orlando, Florida U.S.A.

Ocwen Loan Servicing LLC - Ocwen Federal Savings Loan Modification Plan Demands Waiving All Rights of Recourse. Orlando Florida

*Consumer Comment: worked for me

*Consumer Comment: worked for me

*Consumer Comment: worked for me

*Consumer Comment: worked for me

*Consumer Comment: Won't work Tonya...Sorry!

*Consumer Comment: Modify the modification

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Ocwen Loan Sevicing submitted an agreement to me that stipulated that I had to sign away all of my rights of recourse in order to obtain a"Loan Modification."

The legalese included that the agreement would affect "your rights" and that signing the papers I acknowledged that I had the opportunity to obtain,"independent legal counsel concerning this Agreement."

This agreement for the loan modification if approved by Ocwen ,"will bind and inure to your heirs,executors,administrators, and assigns." Why are they(Ocwen) adding this to force borrowers to submit to bogus loan modification and forebearance programs that only lead to foreclosure.

These are bait and switch tactics that help fuel the mortgage crisis. Criminal is the only way to describe their actions.Any legal agencies out there that are willing to assist I would appreciate your assistance. This is an update on a previous filing March 2008.

Ripoff consumer
Moreno Valley, California
U.S.A.

This report was posted on Ripoff Report on 05/28/2008 10:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/Ocwen-Financial-ServicesOcwen-BankOcwen-Loan-Servicing-LLC/Orlando-Florida-32826/Ocwen-Loan-Servicing-LLC-Ocwen-Federal-Savings-Loan-Modification-Plan-Demands-Waiving-Al-335325. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

worked for me

AUTHOR: Tonja - (U.S.A.)

It worked for me, not only did I receive the terms I requested and agreed to and I did this withut the benefit of an attorney . They cannot take away your right to sue when a law is being broken, I now have a loan modification making payments that I am comfortable with in addition to a much lower interest rate. You just have to know your rights and stick by them regardless of what anyone says. My husband and I took a trip to WPB to Ocwen offices and DEMANDED that they modify our loan. Stand firm, dont take no for an answer and take a trip to WPB if you have to, show them that you mean business.
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#2 Consumer Comment

worked for me

AUTHOR: Tonja - (U.S.A.)

It worked for me, not only did I receive the terms I requested and agreed to and I did this withut the benefit of an attorney . They cannot take away your right to sue when a law is being broken, I now have a loan modification making payments that I am comfortable with in addition to a much lower interest rate. You just have to know your rights and stick by them regardless of what anyone says. My husband and I took a trip to WPB to Ocwen offices and DEMANDED that they modify our loan. Stand firm, dont take no for an answer and take a trip to WPB if you have to, show them that you mean business.
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#3 Consumer Comment

worked for me

AUTHOR: Tonja - (U.S.A.)

It worked for me, not only did I receive the terms I requested and agreed to and I did this withut the benefit of an attorney . They cannot take away your right to sue when a law is being broken, I now have a loan modification making payments that I am comfortable with in addition to a much lower interest rate. You just have to know your rights and stick by them regardless of what anyone says. My husband and I took a trip to WPB to Ocwen offices and DEMANDED that they modify our loan. Stand firm, dont take no for an answer and take a trip to WPB if you have to, show them that you mean business.
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#4 Consumer Comment

worked for me

AUTHOR: Tonja - (U.S.A.)

It worked for me, not only did I receive the terms I requested and agreed to and I did this withut the benefit of an attorney . They cannot take away your right to sue when a law is being broken, I now have a loan modification making payments that I am comfortable with in addition to a much lower interest rate. You just have to know your rights and stick by them regardless of what anyone says. My husband and I took a trip to WPB to Ocwen offices and DEMANDED that they modify our loan. Stand firm, dont take no for an answer and take a trip to WPB if you have to, show them that you mean business.
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#5 Consumer Comment

Won't work Tonya...Sorry!

AUTHOR: Lmnop11 - (U.S.A.)

Tonya,

Just to let you know. You can black out the information that you don't agree with and send it back. However Ocwen then has the right to not accept the agreement/modification since it has been altered. You can think everything is fine but they do not have to agree to your rules and what you change on the document. Once you alter the document it becomes null and void in the eyes of Ocwen and their modification will not be approved.

This is standard practice in the mortgage business. If you don't like the terms of the agreement then you don't get a modification. That is your choice. There are other things in the documents for a modification with Ocwen that are not correct but you don't have to agree to them but if you don't you don't get the modification. An attorney could fight this if they wanted to on the fact that a lot of the documents have the incorrect payment amount and incorrect dates on them. An attorney could fight that once the borrower signs the document they now have a different payment amount (which may be less if Ocwen didn't include the escrow amount.) You just have to find an attorney that is willing to fight such a big company.
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#6 Consumer Comment

Modify the modification

AUTHOR: Tonja - (U.S.A.)

I received the same standard agreement that Ocwen probably sends all its customers who choose this option. If there is anything in the contract that you don't agree with or never agreed to, then just take a black sharpie and blackout the part that you dont agree to then sign and return it. I blacked out all that nonsense about not being able to sue. That gives you leverage in the likely case that you have to sue them. IF they question it just tell them it is at the advice of an attorney, cause that's where I got it (I am a paralegal).
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