OCWEN Loan Servicing, LLC Ocwen Modifies Loans to bill MORE than the original monthly payments! West Palm Beach, FL , Florida

In 2006 I had refinaced my Mortgage at the high side of the accepted interest rate of the time.  Being interest conscious,  I signed up for Bi-Weekly Payments,  which was to ultimately reduce my 30 year term to roughly 19 years, thus,  saving me thousands in interest.  As a further advantage, I had decided to pay an extra $312 per month ($156 X2) in order to further reduce my principle.

This loan was purchased by OCWEN shortly thereafter.   I was told that OCWEN used a third party to collect and manage my Loan Payments,  and that this Third Party (Equity Plus),  will be managing my Bi-Weekly & surplus Payments.

Several months into the arrangement,  I had realized from the OCWEN Statements,  that Equity Plus had been delivering my payments to OCWEN only once a month instead of two,  and that there was no discernable record of my surplus amounts paid.

Of course I had complained to OCWEN & Equity Plus in writing on numerous occassions,  and by phone whenever I had a couple of hour to spend on hold.  I had made so many complaints to the Banking Department,  that Equity Plus had finally refused to manage my Mortgage Payments for Ocwen.  Long story short:  To this date,  I was never given an explanation why my Bi-Weekly arrangement had been wasted,  nor was I given a reporting of the surpus funds I'd been paying since the inception of my loan.

I'm self employed in a Service oriented Business which depends largely on the strength of the Housing Market.   When the U.S. Economy took a nosedive in '07/'08, I began to fall behind in my Mortgage payments.

By mid 2009, I had fallen a few months behind, and had been getting threat of foreclosure by OCWEN.  Besides searching for someone other than OCWEN to refinance my Mortgage, I had been pleading for a Loan Modification in veiw of the failing economy.

Despite much hesitation,  in 2010,  OCWEN finally agreed to Modify my loan to a lower Interest rate,  and for about six months,  I had the pleasure of paying approximately $500 less each month.

OCWEN then decided they would escrow my Tax and insurance into the Mortgage.   As a result,  my Payments are nearly $1000 per month more than they were upon inception in 2006.   Moreover,  by OCWEN's creative math,  they had added roughly $40K in unexplained principle to my Account Balance.

My experience with OCWEN has been a real horror since they bought it from my original lender in 2006.  Making my situation worse is OCWEN's lack of response,  unless they are playing Offense.
I would like nothing more than to be able to participate in a Class Action suit by a bulldog Law Firm!