My mortgage was sold to Ocwen in June. Previously, my payment was pulled from my bank account. After the sale, it wasn't made electronically, nor did I hear from Ocwen. When I called them, they said they couldn't send a statement until I made a payment. How can I make a payment without a statement? Little details like new loan number and mailing address... After much arguing, I got an address - but for some reason my payment never arrived. They offered to accept an electronic payment for only an $11 fee.
In August, after sending them three copies of my insurance bill (there was more than enough to cover it in my impound account) and many promises of payment today, tomorrow, next week, it's in the mail, and so on, it defaulted and they "bought" me coverage - at over twice the amount and only enough to cover the balance on the loan - not full coverage like I had. Numerous calls and faxes with my insurance company later, they finally paid my insurance company and credited my impound account for the insurance they purchased.
In September, they offered to accept electronic payments (saving them processing checks, available funds, and timely payment) for only a $295 set-up fee and charge of $12 per payment. I declined.
In October, they offered to save me money by setting up a plan to make payments every two weeks instead of once a month. However, it included the large fees required for electronic payments. I again declined.
Starting in November, my payments never seemed to get there early enough to avoid a late charge. I have a hard time believing that it takes over three weeks to get a payment from Northern California to Los Angeles. When I questioned this, the answers got very circular, from they credit accounts immediatly to it takes ten days for the payment to actually be processed.
In January, I missed a payment. I was in the process of a refinance, and expected the loan to close that month. When it didn't, I started making half payments every two weeks in February.
In March, they informed me they couldn't post half payments and started putting the monies in a suspense account - continuing to add late fees and interest since my account wasn't credited.
In April, they said they wouldn't accept half payments and to wait for four weeks to make a full payment. I did and in May they returned it, saying it wasn't enough to bring my account current. At that time I would have been a half month behind. However, since they retruned my payment and wouldn't credit me with the money in their suspense account, they said I defaulted and put my property in forclosure.
All this was accompanied by phone calls every two or three days, from January through the end of May, at home and at work, despite telling them on the phone and in writing not to continue to call me at work. They would leave as many as five messages a day on my recorder. They would start as early as 8am and continue until 9:45pm, including Sundays. Nothing changed from day to day, so they were the same information as the last call.
Finally my refinance went through in early June and I'm now away from them. However, after charging for a payoff figure, they added over $7000 in fees in charges to the principal balance owing. They also still hold the balance of my impound account, and have yet to record a reconveyance.
Donne
Redding, California
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