In December 1997, I purchased a 2 Unit Frame with a Couch house in the rear on the south side of Chicago. The property was supposed to have been rehabbed by the time of the closing. It was not. After the closing, I received the keys to the property, but never got the appraisal which was promised. When I went to assess the property after purchasing it, I was stunned to find out that there were no toilets, sinks, tubs, window, doors, wall, electrical, pumbing, or any other liveble conditions.
I WAS SCAMMED. Not once but several times. I found out that Ocwen had approved a homeowners loan for 68,000.in this area no property is worth this much. I had the property appraised, shockingly to say the property was worth 11,000. The summer of 1998, I got a call from Ocwen inquiring what was going on with the property.
I told them that the property was not in liveable condition and that it was boarded up. I was told by Ocwen that the City of Chgo was going to demolish the property but;the City of Chgo contacted Ocwen and found out that I was mortgaging that property. The attorneys for Ocwen filed a court action to stop the demolition.
The Inspector in the area of the property was very nice, patient, and truely helpful. I had to go back and forth to court several times. Ocwen attorney only appeared once. I fell behind in the mortgage one or two months.
In the meantime, Ocwen attached on to my mortgage note the court costs or 4 to 5 thousand dollars. Upon calling them to make the arrangements to pay the one or two months rear, each customer service representative, would look up the account and tell me the account is in forclosure. Each person, that I spoke to I had to correct them to tell them that the account was in court for DEMOLITION not FORECLOSURE. So I went three months in the rear awaiting for them to get it straight. So; by this time now the papers were filed by OCWEN for foreclosure. I was suppose to have completed the Forebearance agreement January but I have not sent in that payment as of yet but soon to be before any other drastic turns for the worst arise.
Now the property is in liveable condition. I have two relatives living in the property. I'm trying to find someone else to refinance, and to start all over. This was a classic scammed nightmare.
Katherine
Chicago, Illinois
0 comments