Saxon sold our first mortgage to Ocwen in 2010. We had to
have the Texas BBB and Arizona Dept of Financial Institutions help us in the
battle about our mortgage payments. Since at least 2004 we have been 2 months
ahead on all our mortgage payments even as our mortgage got sold to other
companies. Maybe we had an unconscious sense that we would need this security
buffer.... Anyway Saxon tried to hide the fact we were 2 months ahead just
before we went to Ocwen. Long story short Saxon had to be forced to 'fess-up
and then Ocwen had to be forced to accept the proof staring them in the face.
Since then, almost every month we have to battle with the
Ocwen reps to prevent our 2-month security buffer from being eradicated. They
think they're so slick -- they'll send statements two months in a row with the
same due date listed (i.e.: statement in June says next payment due Sept 1st
& then statement in July says same due date despite payment being made). We
strongly advise to insist on having correct paperwork & statements from
them -- don't just go along with incorrect documents; they'll try to use it
against you later, saying that your doing so 'proves' you were in agreement
with whatever stunt they've pulled on you.
This year our second mortgage went from Litton to Ocwen as
well. We have the same 2-month security buffer payments on the second mortgage
also, and of course Ocwen routinely attempts to eradicate those. Thought it was
a hassle before, having to fight with Ocwen reps over our payments for the
first mortgage once every month -- now it's twice every month because of the
Reading about all the things Ocwen has done to other people
makes us feel fortunate .... all you folks, once you get back to being
stabilized in home ownership again some day, if you can come up with the extra
cash (maybe via cash-back option on a refinance, which is how we did it way
back in 2004) set yourself up a security buffer. It will make it at least a
little bit harder for unscrupulous mortgage companies to come stomp on you
& steal from you.
We are upside-down on our mortgage, so we can't refinance.
We would in a heartbeat just to get away from Ocwen. There is news about a new
program being proposed that will let even people upside-down on their mortgages
refinance (it was in the news on 1 Feb 12). Our first thought was, yay! we'll
have to try that if the proposal is approved -- now our second thought is maybe
we'd better not try it, since we're stuck with Ocwen and they're so likely to
use it as an opportunity to take our buffer away either as a required part of
the bargain or via underhandedness. We don't want to end up in a worse
Does anyone know of a truly ethical, highly regarded
mortgage company out there? Especially with operations based in the US?