• Report: #1070360

Complaint Review: Ocwen Loan Modification

  • Submitted: Fri, July 26, 2013
  • Updated: Wed, August 06, 2014

  • Reported By: Marvin — Piscataway Township New Jersey
Ocwen Loan Modification
, Select State/Province USA

Ocwen Loan Modification Ocwen denied my loan modification Florida West Palm Beach

*Consumer Comment: Ocwen Loban Servicing The Most Corrupt Devious Outfit in the mortgage business

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I was making my monthly payments and i have a mortgage with Ocwen where my interest rate would go down every year if I made my payments on time Ocwen sent me a letter saying my loan has changed and the interest rate will no longer go down.Then i applied for a modification which they denied.

Then i got a phone call a few days later telling me I owe them over $14000.00 as they ran an Escrow analysis and my Escrow balance was Negative. Due to this i was unable to afford my mortgage anymore. I have been trying to get a loan modification through Ocwen for the past 2 years and still have no luck.Some times they say that I have High income and some times they say that my property is not under water which is true as I did property appraisal and my property Value is $470k against the Unpaid principal balance of $410k with interest rate of 6.5%, Please give me some advice!! I had a law group contact me and they said they could submit the paperwork for me and get it approved, but I'm just not sure if it's worth it or waste of money as they demand $3500 upfront fee and refund me $1500 if no approval. Please advice!!!

I have googled this person who has been advertising over the internet by the name of Richard loan modifications and says that he will only charge a nominal fee for the help only if the loan modification gets approved or else he does not take a single penny from me, also would not take a upfront fee and grantees 100% loan modification, and he also says that he has experience in loan modification with Ocwen as he has been a former employee of Ocwen and can get me a loan modification approval easily and has more than 7 years of experience in Ocwen loan modifications.Also he promises a principal and interest reduction. Do i take his help as trying him is no harm as i dont have to pay a fee upfront at all. I have decided to take a professional help. please advice???


This report was posted on Ripoff Report on 07/26/2013 12:10 PM and is a permanent record located here: http://www.ripoffreport.com/r/Ocwen-Loan-Modification/Select-StateProvince/Ocwen-Loan-Modification-Ocwen-denied-my-loan-modification-Florida-West-Palm-Beach-1070360. 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

Ocwen Loban Servicing The Most Corrupt Devious Outfit in the mortgage business

AUTHOR: joe - ()

Ocwen Financial goes way back to the days of Delta Funding in Woodbury LI NY. DElta single handedly invented sub prime financing. They worked hand in hand with Delta and the Miller family (former life insurance salesmen) to steal foreclose and in every way rob the houses of hardworking people, especially in the red lined areas. Bill Clinton was on the board of Delta, didn't know that did you. Delta later filed for bankruptcy.

Another politico crook.

 

Bewware of Ocwen in all ways, DO NOT LET THEM INTIMIDATE you. They will send unauthorized outside contractors on your property, have them arrested, you own the house not Indy, Not Ocwen, not anybody. If they do not have an order to sell, YOU own the house. Protect your rights, go to court file motions, do not give up. Tel your local authorities you own the house. Do not be embarassed. Yes it's a civil issue but they can not trespass.

 

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