ED Magedson – Founder
OCWEN LLC1661 Worthington Road Suite 100 West Palm Beach, Florida USA
OCWEN LLC Holding my payoff hostage West Palm Beach Florida
Here is a synopsis of the issue I am experiencing with Ocwen Bank: I sold my house on 1/10/14 and Ocwen was sent a check for the payoff based on what they stated the payoff was ($224,302.77). A few days passed and I checked the account online and found it was not paid off so I called and questions the status. I was informed that the payoff was rejected but still being held due to a lack of funds.
Ocwen provided another payoff and that entire amount was wired on 1/20/14 ($224,451.89). On 1/24/14, I received a call and was told that an additional amount of $1327.27 was required to pay the account in full. That amount was wired within 45 minutes.
Two days passed and I again checked the status of the account and it is still was not paid off. They are currently holding the first check in the amount of $224,302.77, a wire for $224,451.89, and the second transfer of $1327.27 all of which they will not apply it to my account. Ocwen had just taken over my account on December 1, 2013, and they state the original payoff they provided was wrong because there was a payment that was applied to the loan twice when the account transferred. They provided the additional payoff quotes that addressed the discrepancy and we paid the amount they stated.
They continue to add interest fees daily to my account even though the payoff amount is sitting there in an account. When I called again this morning they stated that they see the money in the cashier’s office but can't figure out why the payoff department will not apply it. I have asked to speak to supervisors and I get placed on hold for extended periods before being told there are no supervisors available.
Is there anything you can do to help me? I believe my funds are being held in an attempt to keep collecting additional interest on the account. The Title Company has also called numerous times on my behalf and we both are given the run around and told something different.
This report was posted on Ripoff Report on 01/30/2014 11:09 AM and is a permanent record located here: http://www.ripoffreport.com/reports/ocwen-llc/west-palm-beach-florida-33409/ocwen-llc-holding-my-payoff-hostage-west-palm-beach-florida-1119571. 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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