Report: #589139

Complaint Review: Ocwen / OCWEN LOAN SERVICING

  • Submitted: Sat, April 03, 2010
  • Updated: Sat, April 03, 2010
  • Reported By: WMG — Laguna Hills California United States of America

    United States of America


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OCWEN is bad news!!!!!

We bought our house at the peak of the market with a 10% down payment.  We subsequently refinanced to fix all the problems of the house.  We also spent more money in securing our slopes since we are on the hills.  Our home value have declined by 30% based on our purchase price - 40% at the refinanced loan amount.

We tried to modify our loan while current but nobody would even talk to us.  We wiped out all our savings already.

Last year, November 2009, we were at the final stages of modification negotiation with SAXON.  We hired a lawyer to help us - same lawyer who helped us with our Bankruptcy. Everything was supposed to be in order but at the last hour it was sold to OCWEN Loan Servicing.  New negotiations have been initiated.  Meantime, they have sent an Auction Date notice for Mar 4, 2010.  Our lawyer and I scrambled to provide them all the documents need, financial hardship letter, financials, etc.  We were told that it will be submitted for processing and the sale date will be postponed to April 5th, 2010.  Second week of March they wanted us to submit more paperwork as the Manager is rejecting the terms. We re-submitted. We found out on April 1st (I thought it was an April Fool's joke) from our lawyer that he has not heard from them and they are not returning his phone calls and they are proceeding with the sale on Monday. Friday, April 2nd we were forced to file a Chapter 13.  I personally called OCWEN to find out what was happening.  They said that our lawyer should have told us that they are rejecting any offers even if we have income.  We showed them bank statements for 6 months to show income.  They said since it is our own business - they cannot modify.  They said sorry but we cannot - WE WILL NOT - help you!  Our lawyer is furious. 

I will submit an Affidavit about our experience so I can join a lawsuit against them.

This is ridiculous!!! 

This report was posted on Ripoff Report on 04/03/2010 07:20 AM and is a permanent record located here: 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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