I just received a billing statement from Ocwen with a charge on it I had no way of knowing what it was. I called the bank and was told the first time by their representative that it was for a payment made late in February 2002. I told them no payment was made late and my cancelled check and bank statement clearly indicated they deposited that check long before the payment would have been late.

I then emailed Ocwen regarding this false statement. They then in return told me no one said it was for a late payment fee. They said it was for a demand letter sent in February for past due payments and a property inspection fee. I asked them if we owed such a charge then why did it take them from February 2002 until September 2002 to place this charge against us? No answer. Was told they had a right to charge it and collect the fee.

I then asked them why they were not crediting my payments at the time they received them. They informed me they were crediting them within 24 hours of receipt. This is not so. Back in March 2002 our payments began to be drafted every two weeks and 1/2 the monthly payment. We paid the March payment and the April payment was drafted from our bank account by AAA Financial Services for Ocwen in March also, on the 8th and the 22nd.

We were told that by having the payments drafted this way we would reduce our mortgage from 30 years to 20 years and receive more credit for principle and pay less interest. This has not happened to date. Ocwen does not show any payment being credited until after the 1st of the month even though they collect it long before the end of the previous month.

I contacted AAA Financial to get them to do an audit for me as they said they would do in the papers we signed. They then informed me that they would not do any audit until we had been with them for at least 12 months and were still a part of this procedure. Needless to say when our payments were not getting credited right and Ocwen lied to us about them we withdrew from this program. So now AAA Financial Services AKA Tower Administrative will not help us get the credit we have earned and deserve. We paid this company $195.00 to get into this program in order to assure that our payments would not be late and dwindle the mortgage term down.

I believe the AAA Financial place is in cahoots with Ocwen and they are ripping people off right along with Ocwen Mortgage.

William
Cordova, Tennessee

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