Ocwen Bank, aka Ocwen Financial Corporation is a huge rip off. I did not originally start out with this company, but my mortgage was sold to them. At first, things were ok until I started to be assessed late fees for payments that mysteriously 'disappeared'.
Then my husband's employer bounced seven paychecks in a row. Needless to say, we got behind on everything. We were contacted by Foreclosure Solutions to 'help' negotiate our forbearance. I believe that they are scam artists that are associated with Ocwen. If anyone has any information about this, please let me know. We paid them $900 and they got us payments of $449.05 per month starting Sept.
Our original payment was $275. We were told that in August our payment would return to $275. Well, I contacted them in July and was told that I would need to be in forbearance again because I was almost $7,000 in arrears. I started out only $4,000 behind. The fees they charge are ridiculous.
So I called and was put on hold for 34 minutes. I hung up and tried again today. I was on hold for 15 minutes only to be told by some 'foreclosure expert' that my payment will keep going up and I will be in forebearance for the life of the loan because I am on a 'fresh start plan' That doesn't sound like much of a fresh start to me. I was also told that my payment will keep going up because of my adjustable rate mortgage. So basically I will end up paying them over $100,000 for a $18,000 home.
Anyone knowing of a class action law suit filed against Ocwen, please let me know. I am so relieved to know that we aren't the only ones being ripped off by this horrible company.
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