• Report: #1122172

Complaint Review: Ocwen Loan Servicing LLC

  • Submitted: Sat, February 08, 2014
  • Updated: Sat, February 08, 2014

  • Reported By: Susan — Anaheim California
Ocwen Loan Servicing LLC
P.O Box 24738 West Palm Beach FL 33416-4738 Waterloo, Iowa USA

Ocwen Loan Servicing LLC GMAC ESCROW AND INSURANCE RIPOFF WEST PALM BEACH FLORIDA

*Consumer Comment: In a home loan consisting of PITI..Principal, Interest Taxes and Insurance...

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I just found out that for the last year I have been making my payments on time and for the same amount and my escrow payment is included into my payment every month now all of a sudden they tell me my escrow account is short by $700.00 and they can not explain why this is.

So now I want to know if you have included my escrow into my payment and my payment was made every month how am I short and what happend to the account to make it short, now they want to increase my monthly payment to pay for the shortage but I cant get an answer as to how this could have happened.

This is not the first time something odd has taken place, last month I was informed that I owed and additional $86.00 for fee's charged for them upgrading their system, I told them I was not responsable for that and they said if I did not pay it then it would go on my credit report as a late payment and I would get charged an $85.00 late fee so rather than fignt with them I paid it now I have this looming over my head and I refuse to pay this time,  I want to join in to the class action suit on Ocwen Loan Servicing LLC they are the biggest ripoffs ever this is just getting worse every month and I do not feel that I should have to pay the extra money for the escrow account.

I need help on this real soon I don't know what to do now.


This report was posted on Ripoff Report on 02/08/2014 11:02 PM and is a permanent record located here: http://www.ripoffreport.com/r/Ocwen-Loan-Servicing-LLC/Waterloo-Iowa-50704-0780/Ocwen-Loan-Servicing-LLC-GMAC-ESCROW-AND-INSURANCE-RIPOFF-WEST-PALM-BEACH-FLORIDA-1122172. 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

In a home loan consisting of PITI..Principal, Interest Taxes and Insurance...

AUTHOR: Ken - ()

which yours is..the only legitimate reason for a higher escrow payment is higher property taxes and/or higher insurance premiums.  It's really hard to believe they have no explanation for this.

"..now I have this looming over my head and I refuse to pay this time,"

"I need help on this real soon I don't know what to do now."

Refusing to pay will have SERIOUS consequences for you and is just what you SHOULDN'T do. 

You can check with your county assessors office to see if your taxes have gone up..you should have received a statement of this from them.

You can also check to see if your home insurance has increased.  You should also have received a notice on this.

Do you just throw away all your mail without reading it?

You asked for advice and here it is..PAY the extra monthly amount of approximately $58 while you check into it.  If your loan is typical, you receive interest on the escrow account.

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