Report: #861778

Complaint Review: Ocwen Mortage

Submitted: Sat, March 31, 2012
Updated: Mon, March 11, 2013

Reported By: roebling, new jersey — roebling New Jersey United States of America

Ocwen Mortage

west palm beach Florida west palm beach, Florida United States of America

Phone:
Web:
Category: Mortgage Companies

Ocwen Mortage Beware of Modification 1099-C form to Follow and not a word mention in Agreement west palm beach, Florida

*Consumer Comment: Ocwen 1099

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We had applied for a modification thru our mortage company. We got accepted and and received the paper work stating what our orginal principal balance was, and what the new balance would be. The differnce was like around 41,000, but at the end of our term we had a Ballon payment in the year 2037,but no amount was on there. So when I called they gave me the run around stating at the end of the term we would know the amount after paying our mortage. So I received in the mail a 1099-C form, that is a debt cancelled, so I will have to report it to the IRS. So I called back and they are telling me that is not going to be balloon payment at the end. Nothing was ever said about a 1099-c form and i had spoken to accountant and when he read our agreement he said that it seems to him they are double dipping because of the balloon payment. I dont know where to go.

This report was posted on Ripoff Report on 03/31/2012 02:26 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ocwen-Mortage/west-palm-beach-Florida-/Ocwen-Mortage-Beware-of-Modification-1099-C-form-to-Follow-and-not-a-word-mention-in-Agre-861778. 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 1099

AUTHOR: bergmanmd1 - (United States of America)

SUBMITTED: Monday, March 11, 2013

Ocwen rewrote my home loan after my chapter 7 and they insisted on a balloon payment at the end of my loan. Because I disputed the balloon payment as it was undisclosed as to the amount, I finally got one of the loan officers to verbally tell the amount of the undisclosed balloon payment amount. It was $25,XXX thousand and some change. Then at tax time I received a 1099-C from Ocwen which claimed Ocwen had canceled $25,XXX thousand and some change from my debt.

Now I have checked into this and it is illegal for Ocwen to do this and I am looking for other people who have had the same thing happen. Then we can report Ocwen to the IRS and collect from the whistleblower act. Please contact me at (((email redacted))) if you would like to get Ocwen for breaking the law. We must prove at least $2,000,000 in false reporting before the IRS will do anything about it.

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