- Report: #1125310
Report - Rebuttal - Arbitrate
Complaint Review: OCWEN Loan Servicing LLC
OCWEN Loan Servicing LLCP.O. Box 785063 Orlando, Florida USA
OCWEN Loan Servicing LLC Illegal re-opening of closed 2nd mortgage account Orlando Florida
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We fell to the misfortune of losing our home to a forclosure that started back in 2007 in CA. We had 2 loans (1st and 2nd) when we initially purchased the home. The loans were interest only with a 2 year fixed. Once the first 2 years were over, we tried numerous times to refinance but came up empty due to the home losing value. The first mortgage company refused to work with us and instead of keeping the interest rate the same or lowering it for us, they instead increased it which raised our monthy payment over $700.00 per month. We could not afford thier increase so we became delinquent and did everything to re-finance. They refused to work with us to include accepting any offers that our realtor worked so hard to provide to them so we ended up losing the home.
The 2nd mortgage company, OCWEN was also included in the foreclosure and realizing that they had no stand being a Jr. 2nd they closed down the account. The account had been closed on my credit report for 4 years and then in Nov of 2013 we started recieving letters from them that we not only owed them the inital amount, but we owed them over 70k in late charges. We did some research on this and found out that they have no recourse in CA for a purchase money loan/lien, plus in CA there is a 4 year statute of limitations in which they had surpassed. They continued to send us threatening letters and we finally sent them one asking them to stop sending us letters as we are no longer responsible for this debt and if they didn't stop we would file harassment charges against them.
In Dec of 2013, I had put in for a small loan at my local credit union and when they advised me of my credit score I hit the roof. It had dropped drastically and I couldn't understand why so I pulled my credit report and found out that OCWEN had re-opened the loan stating that had acquired the servicing rights of the loan from LCS Financial Services Corporation on Nov 15, 2013. In other words, they transferred the account to another department within their company and are trying to state that since they moved and re-opened it, they are trying to collect the debt. They put this debt back on top of all 3 of my credit reports which shows an open balance of the initial amound borrowed plus all the late charges and shot my credit down the tubes that I had been working on rebuilding for over 6 1/2 years. This account is going to fall off my credit report this year, so re-opening this account did nothing for them. I currently have a dispute running with all 3 credit reporting agencies but knowing the reputation of this company, I would assume I will be waiting for this to drop off before they budge to report this as closed like it was and now should be.
This company is corrupt, and I was so glad to read that when I filed a report against them with the BBB, that there is a federal investigation against them for millions of dollars. I am also hoping (after reading so many horror stories from others in reference to this company) that all the other individuals that they have ripped off, scammed, and lied to will be paid back in some way for their suffering as well assisted with their losses.
This report was posted on Ripoff Report on 02/20/2014 10:35 PM and is a permanent record located here: http://www.ripoffreport.com/r/OCWEN-Loan-Servicing-LLC/Orlando-Florida-32878/OCWEN-Loan-Servicing-LLC-Illegal-re-opening-of-closed-2nd-mortgage-account-Orlando-Florid-1125310. 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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