Ocwen Loan Servicing Ocwen Loan Servicing refused to help me in the past year, now I am bring foreclosed on. Orlando Florida

My experience with Ocwen has been a nightmare. I refinanced my home in August 2004. I went through a company called Lower My Bills, and I worked with a guy who ended up getting a loan for me. The lender was Freemont Investments (aka Sub Prime Monster #1 filed bankruptcy or went out of business). I was aware I had signed an adjustable rate mortgage, but I was assured by the lender I could refinance in two years.

My home was appraised at $342,000. The loan was for a first and second mortgage, for the total amount of $342,000. In the spring of 2005, Freemont sold the two mortgages, one to Ocwen (the first mortgage) the second to Wilshire Credit. In the early spring of 2006, I called Ocwen to talk about the possibility of refinancing my ARM, as I knew the rate would go up in October 2006, just six months from then. I called customer service, and the person I spoke to did not speak very good English, and had no interest in helping me. I was told by this person that Ocwen could not refinance me, because they were not the "Originator" of my loan, just "Servicing" my loan.

I then began the long crusade of trying to find someone to refinance this loan. For various reasons, I could not find another lender to re-finance, and I knew my time was running out. I repeatedly called Ocwen, and got the same response, no one who could speak English, and I was told I could not get re-financed or have my loan re-modified, nor was I eligible for any other service from Ocwen.

My ARM started going up October 1, 2006. My rate went from 5.795% to 8.795%, 3 full points, and the payment went from $1669.00 to $2200.00 a month. This was impossible for me to pay, and I found myself juggling all my bills to pay the mortgage. I also had a second mortgage at $583.00 a month to pay. I fell behind, and struggled so hard for the next few months, just trying to pay the mortgage.

I was in default by January, and was told I was going to be foreclosed on, and received notices regarding that. I was able in mid March, to repay the back mortgage in arrears; from a portion of a bonus split I get from my X-husband and our divorce decree court orderI sent a certified bank check for over $10,000 overnight. I called everyday for 4 days to find out if that check was posted to my account, and I was told that just because I sent it overnight it, that it wasn't guaranteed to post the next day. It was 4 days before they posted it, although it was signed for the next day after I sent it. I was so pissed off I told the NON English speaking person off so bad I was crying.

They had no problem harassing me when I was late with a payment, but they let a $10,000 plus payment sit on someone's desk for 4 days, and I got charged 4 days late fees. Having gotten caught up with that, I was able to make the next several payments. Even though the second hit of my ARM went up in April 1, 2007, from 8.795% to 10.795%, from $2200.00 a month to $2500.00 a month.

Again, I called, and pleaded with the NON English speaking customer service person and begged for help. I asked if I could split my payments, to be paid on the 15th and 30th, as this would help me because I had so many other bills. They gave me a number to call, saying this was a department that accepted bi-monthly mortgage payments.

I called the number and the woman who answered said they could help me-if I gave them an extra months mortgage payment in advance, and then there would be an extra 300.00 a month on top of the escalating payment, this was so I could pay off my mortgage sooner! I flipped out. I screamed at the woman and told her that I was calling for help, and what kind of help was that?

I hung up. Feeling defeated, I just kept calling Ocwen, asking for the Forbearance office, they would never transfer me. All they would say is "when are making a payment" or "when you get caught up with your payments we can talk. I was told I could do a "short sale" and that they would send out the information right away, and they never did. I was told different things by different NON English speaking people. I told them that their website boasted of being able to help customers with issues like mine, and I got told over and over again to go find another lender to help.

When I asked them what determines what makes my mortgage go up every six months at the rate it was, I was told to go look on the internet, or "you signed the papers, it your problem". I struggled through the summer, making the mortgage payments, but at the cost of my other bills. I fell so far behind, and in order to keep my home for myself and my two children, I filed for Bankruptcy in Illinois. September 14, 2007. I was eligible for a Chapter 7, and was granted a discharge, December 18, 2007.

This only delayed the inevitable for a short time. Ocwen petitioned the court to have the Automatic Stay lifted, and the court date was October 26, 2007. In their petition, they misrepresented me by saying my home was in decline, and I had no homeowners insurance on it. My home is beautiful and well maintained, and I have had, and still have Allstate Insurance on my home. I NEVER received a piece of information regarding if the stay had been lifted or not, even though I was on the service list.

I just received a letter dated January 9th from some law firm in Chicago, telling me they were going to sue me for foreclosure within 30 days. Ocwen used two different law firms for the lifting of the stay and the suing of foreclosure. I am hoping to do a short sale so I don't have to go through this horrible situation. (Foreclosure)

Ocwen has treated me like I was a low life, not wanting to help me, lying to me, and promising me things that never happened. They never let me talk to anyone above customer service. I spoke only to people who most likely read from a script, sitting in a desk in India. I detest this company, and I hope and pray that they are found guilty of all the charges against them. If the court or anyone needs more information, or documentation regarding what I just wrote and sworn to, please let me know.

On a very interesting note, I just received a letter today from Ocwen, telling me that my mortgage payment has gone down from 2800.00 a month to 2500.00 a month. And I also saw online that they have changed their whole entire website, it's pitiful.

Camee
Naperville, Illinois
U.S.A.

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