We refinanced our home in 2001 with New Century Mortgage. That was the begining of our problems. What we didn't know is that Ocwen owns New Century Mortgage. We were told by New Century that we had to take a higher interest rate, (even though we had good credit) because we owned our own business. We thought this was normal and they told us if we paid our loan on time for two years we could refinance again for a lower interest rate.
When they came to close, our closing costs were way more than we were quoted, but we signed it anyway. Our fault for not investigating. Then our payments didn't get posted in a timely fashion, but we never went thirty days. When I tried to call and find out why, I was talking to someone in a foreign country and he didn't understand me and I couldn't understand him. When our two years were up we called them to refinance for the lower interest rate and they told us absolutly not. They were not refinancing anyone now and I should call back in a couple of months.
This is when they really started, they lost the payments and reported us 30 days late about 5 times. Now nobody else would refinance us. My husband lost his job and I called to tell them the payment would be late they said no problem. When I sent it in the next month they held it for another month and sent it back and put us in foreclosure.
We had to file Chapter 13 to keep the house. They set our payment so high (1,700.00 a month) that we couldn't afford it. Then they called us and told us if we got out of the chapter 13 they would put us on a forebearance and lower the payment. They lied. We got out of the 13 and then they stopped answering our calls. We have been trying to get this straightened out for two years. We can't refinance and Ocwen is adding fees like crazy. We had almost $50,000.00 in equity when this started and now we can't even sell it because we would owe them money. I would like to be put on the class action suit against them if anyone knows how.
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