New Century Mortgage held my 2 loans then sold them to Ocwen. I was never informed of the transfer. I paid on time for 2 years plus on both accounts. Then suddenly in September I was told that my payment had risen by $200. I said that was incorrect and they stated that they had force placed insurance and are adding it to the payment. I sent all the proof they requested and thought all was well.
It turns out they still took the payment plus the extra $200 out of my account It was an over the phone payment). I was told the problem was resolved. However, every month the same topic would come up when I made the payment. To make along story short, ever since that date, Ocwen has only applied 75% of my monthly payment to the mortgage and the rest to the insurance that they are now escrowing.
This of course made it appear that I was only making partial payments since Sept. 2001. Needless to say after a while they quit accepting payments because they said I was so far behind, which of course was not true. Now the hiome is in forclosure and my credit is shot. Oh, by the way, when they deducted that extra 200 on my over the phone payment, they put my account into a negative.
My 12 other mortgages that I have with other companies all ended up boumcing as well and I was never able to recover totally. Needless to say most of those mortgages are in jeopardy as well.
Bruce
Westerville, Ohio
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