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Report: #18514

Complaint Review: Ocwen Financial - West Palm Beach Florida

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  • Reported By: Las Vegas NV
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  • Ocwen Financial P.O. Box 24737 West Palm Beach, Florida U.S.A.

Ocwen Financial ripoff - dishonest - non-existant people and payment arrangements - ripoff business from hell cheated employees and screwed the customers even more con artist fake ripoff cheated employees and screwed the customers even more ripoff business from hell West Palm Beach Florida

*Consumer Suggestion: mortgage broker who despises Ocwen. Need info on class action for my clients

*Consumer Comment: Our house will be sold on april 16th

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We too were taken advantage by Ocwens suposed financial advisors. Our mortgage was sold by Delta Funding - We recevied no formal letter from them, no payment confirmations - Nothing!. They also supposedly had paid our taxes and no-one informed us of this - We were never informed of a new mortage amount to include our supposed back taxes. So of course when we sent in our payments we were unaware that there was a new amount so they of course were not credited the proper way and they imposed late charges etc.

After making several calls regarding our taxes - we were finally told to make double mortgage payments to catch up. We were told we could get nothing in writing. That all arangements had to be kept on an oral status only and that nothing could be guaranteed in writing. They never applied the payments at the time that I did a check by phone. They refused to send me papers on where my payments were being applied

- After constantly getting calls saying we were late. They told us that if we paid so much by a certain time that we could keep our house, but who is to say that those checks would not have mysteriously taken three weeks to post and therefore not posting on the agreed time - so low and behold another forclosure notice would most likely have followed. Well we did end up losing our house but luckly a relative was able to buy it from us. We had to get out from under them and that was the only way.

We still ended up loosing thousands of dollars and were also under so much stress that we could barly keep going on.

Something has to be done about this company. Luckly I found this site before my house went into foreclosure so I was able to play their little game and hear what they had done to everyone else and not let them take all of my money.

We definetly are filing a class action lawsuit - We found a lawyer in Illinois who has started one with a similiar situation and of course the same company. - We need as many people as possible - Please file your own Rip-off Report so we can fight these jerks and hopefully stop them from hurting and stressing out any more people - we work hard for our homes and hard times shouldn't force us into forclosure just because someone else wants to get rich off of us.

Doug
Las Vegas, Nevada

This report was posted on Ripoff Report on 04/09/2002 07:57 PM and is a permanent record located here: https://www.ripoffreport.com/reports/ocwen-financial/west-palm-beach-florida-33416/ocwen-financial-ripoff-dishonest-non-existant-people-and-payment-arrangements-ripo-18514. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#2 Consumer Suggestion

mortgage broker who despises Ocwen. Need info on class action for my clients

AUTHOR: jason - ()

POSTED: Sunday, April 14, 2002

I am a national mortgage lender and broker. I have worked with many clients that have had their mortgage sold to Ocwen, and the result is always the same. FORECLOSURE! In many cases, I can help my clients, however, this not always the case. I would like any info on the class action suit to pass along the info to my past, present, and future clients.

HUD needs to shut these people down, because what they are doing is a scam. Because most borrowers are high risk, Ocwen will purchase these mortgages with the idea that the homeowner will somehow miss a payment, or pay late. Whether Ocwen has a hand in the payments not being posted in a timely matter is up to a jury to decide. However, rather than working with the homeowner, they will not except payment unless it is the full amount. Once the mortgage has become 4 months past due, the homeowner will recieve a foreclosure notice.

The net result is Ocwen gets a home with usually a 20 percent equity stake or more, and the homeowner has lost their property, ruined their credit and lost thousands of dollars. This is cruel considereing the fact that most people are trying to get back on their feet from whatever event caused them to be in the situation in the first place.

All Ocwen is doing is exploiting the weak and uneducated for their own personal gains. Is this legal? Actually, for the most part, it is. Is this unethical? Absolutly! Moreover, in dealing with refinancing property with Ocwen, there service is very poor, inefficient, and its very difficult to actually speak to an individual. Again, if there is any info on a class action suit, please e-mail me at jason@loansyourway
Thanks and good luck.

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#1 Consumer Comment

Our house will be sold on april 16th

AUTHOR: Connie - ()

POSTED: Friday, April 12, 2002

Would love to have info on Ocwen lawyer fight. We will lose our house on the 16th of this month. Ocwen would not work with us at all. If you could send me the lawyers contact info I will add our names to that class action.

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