Report: #416812

Complaint Review: Ocwen Mortgage

  • Submitted: Tue, January 27, 2009
  • Updated: Tue, February 03, 2009
  • Reported By: Littlestown Pennsylvania
  • Ocwen Mortgage
    Po Box 785063
    Orlando, Florida

Ocwen Mortgage No Modification,In Bankruptcy and still threating to take my home Orlando Florida

*Consumer Comment: Why a class action probably won't happen (or work)

*Consumer Comment: Ocwen

Show customers why they should trust your business over your competitors...

Well I am glad I found this site and also glad that I am not the only one.Mine started 2 years ago with a multitude of illness then job loss.Called Ocwen and thats when my faith in them died.I have had multiple modification plans but by time you respond back tp them it is too late .I have close to 25k in fees to them and they advised me to file chapter13 as this would force the investor to accept the modification package.

well after filing the Bankruptcy I got my next statement and sure enough it was for my trial period amount.I called them and they said to pay this amount for 6 months then after that I would have my new payment.Needless to say after close to 75 phone calls to non English speaking people .I was told the following:They do not reconigze the Federal Bankruptcy Court,They do not reconigze their own Lawyers here in Pa.,but i did get a bill from them.They now want a payment close to 4k a month from a modified payment close to 1100.

I read a statement from their President on a news release a while back where they are committed to helping those who are about to lose their home.When I advised Raheem of this he advised me that that program is for people living in the inner city areas and I do not fit that profile.

I really need to know what my profile is as I am a single dad raising 2 kids by myself .I am not asking for a goverment handout only for help and what was promised to me.......I really miss (((Redacted)))!!!!!

I have over 2 + years of info and my lawyer who is trying to help ........Too much to write about here...and yes I want somebodies a*s.. We beat Fairbanks but I guess they just changed their name to Ocwen

Littlestown, Pennsylvania

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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#1 Consumer Comment

Why a class action probably won't happen (or work)

AUTHOR: J G Shrugged - (U.S.A.)

Ocwen is probably not the holder of the note, but rather the servicer, so their excuse about getting the investor to agree is probably correct.

The days are gone with the servicer being the note holder, as most mortgages were sold by someone else, and then bundled up and resold as investments.

You agreed to a contract to pay $$$$ per month at a set or variable interest rate, and for probably 30 years. You are supposed to consider the consequences of your actions - signing a contract for that long without wondering about job changes, etc. in those 30 years??? The investors bought the note knowing that they would get X% rate return, so yes, they would have to agree to reduce the amount owing.

With that being said, I can't believe someone from their company would say they don't recognize the BK court. What did your lawyer tell you?

And about the letter....the industry is claiming in court that those statements were just fluff and are not binding contracts. Have you tried refinancing through FHA?
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#2 Consumer Comment


AUTHOR: Lioness - (U.S.A.)

Wow! This is just one of 1560 complaints against Ocwen! I too am going through a similar experience with them. Why can't we get all 1560 complainants and get a class action going? We were paying $1394 per month, minus taxes and insurance, that we paid on our own. husband lost his job, and we fell behind three months. we attempted to get a loan mod after he got another job, and it dragged on for months. one excuse after another. they never received the paperwork, etc. we finally got lawyers to go after them for the loan mod, which they (ocwen) proudly proclaimed to us that we got the mod...for $1586 per month! they (ocwen) thought that was a great deal! Who are they kidding, anyway? why cant they get caught?
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