To whom it may concern: My husband & I refinanced our home in February with I believe CITI Financial. Within 1 month, Ocwen Federal Bank had bought our loan.
Needless to say, in February of Continental General Tire with whom my husband was employed, laid off many many people, & closed its doors. Therefore, we fell behind on our house payment. I believe it was a total of 5.
My father-in-law gave us the money to catch up what we could to stop foreclosure proceedings. Our forebearance plan that we agreed to was $301.47 plus our regular house payment of $330.00. Our original house payment was $253.00, but because of our default I suppose, the interest rate just keeps going up every single month. At the present time, the rate stands at 11.53000%.
The August statement has arrived & now our monthly payment has changed to $399.33 effective 08/21. It also states that this could change the amount of our forebearance plan agreement.
I just don't understand all of these charges that keep appearing on my dtatement; they are charging me a property valuation expense EVERY month of $194.59 & a backsearch fee of $35.00 every month.
Not to mention, the lady with whom we dealt with (Katherine Puleo) stated that every month until the forebearance agreement is up (which is next April), our credit report will show that we are over 30 days late on our acct. How is that possible if we were only 5 payments behind?!
There has to be more to it than what they are telling us. We are in the process of trying to sell our home because frankly, we cannot afford to pay what we are paying, not to mention, the house isn't worth nearly $750.00 monthly.
The realtor that came over to discuss listing our property even said that she couldn't understand our monthly statement we received & that she basically thought we were being taken for a ride.
She said that she would be making some hone calls to find out exactly what every charge was for & what it meant, & if they couldn't tell me, she would be getting a lwayer if she were in our position.
Thanks for your time, Johnna
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