Ocwen Federal Bank, FSB Ripoff Unfair Escrow tack on Orlando Florida

Okay..my horror story goes like this. We were transferred to Ocwen and have been stuck with them for almost 3 years. I am about at my wits end because my mortgage payment has rose almost 300 in that time and that is not because of rates..its because of ocwen.

Two years ago Ocwen decided not to pay my June 2003 property taxes until January 2004. Our house was about to go into the newspaper for sell of by the county. I got onto Ocwen about this payement and they stated they did not received the tax bill even though I mailed it once and faxed it twice. I told them that what ever fees that the county wanted was not going to be paid by me. They took these fees off of my escrow account. Now mind you I had been making my mortgage payment ontime each month in this time period, so my escrow account should have continued to grow. I saw on my statement Feb 2004 fees come off and payment come out for taxes. I though things were fine. I was wrong.

Well, Ocwen then decides that because they paid for the fees they had to recoup this money back somehow (plus some) and tack on an extra 200 on my mortgage payment to play "catch up" in order to pay June 2004 taxes on time. I was told that my escrow account was not going to cover my taxes for the year. so my once 1280 mortgage then jumped to 1560.00 and counting..actually I now pay (late each month now) close to 1700 each month after all the late fees, legal/collection expense etc. Last year alone we paid 13k in interest fees.

Well..today I called because i saw that my 1700 payment was not received on time and I was asked why it was late in the first place. I did not want to get into it with this foreigner and let him know that the company he works for is a rip off so i just told him that funds were not available at the time it was due. He said he asked that question because they need it to report to the Credit Buearu. I just laughed. Ocwen has made a mess of my credit..i can't afford my mortgage and I can't get away from them until next year. and by that time our credit will be so bad it won't make a difference anyway. And we call this the land of the free..yeah right.

Tracie
Elkton, Maryland
U.S.A.