Report: #897150

Complaint Review: Ocwen Loan Service LLC

  • Submitted: Wed, June 13, 2012
  • Updated: Wed, June 13, 2012
  • Reported By: Patrick — Lilburn Georgia United States of America
  • Ocwen Loan Service LLC

    West Palm Beach, Florida
    United States of America

Ocwen Loan Service LLC Fraud, Misappropriation of escrow funds, West Palm Beach, Florida

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     I recently received my annual Escrow Disclosure Statement of which Ocwen has shown a "projected" defficiency of $2500.  I understand the cushion etc., but they have set my escrow account for an IMPOSSIBLE target. 

     My escrow payments being $382 ($4585 roughly annual) and payments being $4469.  A cushion of any amount is impossible.  Hence an increase in my monthly mortgage payment of 200 dollars was tacked on to cover the difference (standard practice?).  Possibly, but this creates a continuous cycle of raising my payments while the amount of annual payments from escrow remain the same. 

     Where does the extra 2000+ dollars go?  OCWEN!! This is wrong! It is an obvious attempt for ocwen to cash in at the expense of hard working people barely getting by; knowing there is no recourse available.  Ocwen must be brought down!



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This report was posted on Ripoff Report on 06/13/2012 03:10 PM and is a permanent record located here: http://www.ripoffreport.com/reports/ocwen-loan-service-llc/west-palm-beach-florida-33416-4737/ocwen-loan-service-llc-fraud-misappropriation-of-escrow-funds-west-palm-beach-florida-897150. 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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