Ocwen Federal Mortgage co. Has more excuses than a dog has fleas.
Several years ago my husband had an employment change which lowered our income by a great deal. We had problems making our Mortgage payments, which at that time was held by Northwest Mortgage. Our Mortgage company referred us to HUD. HUD took us on too help us for the next 3 years. They lowered our payment from $850.00 a month to $500.00 a month. We asked them a number of times, along with our Real Estate Broker, if at the end of this 3 year period would there be any interest, late fees, or accumulative cost. They reasured us that at the end of the 3 years we would have to be capable of returning to our normal payment of $850.00 a month and that they would take care of any remaining payment beyond the $500.00 a month that we would be paying. If needed they would just extend our mortgage an additional 3 yrs to cover any thing not paid.
Well Hud took care of it ok... At the end of the 3 years they sold our Mortgage to Ocwen Federal & that is when the nightmare began.
Dec. 12th of (1998?), we received our first statement from Ocwen (which we had no idea who they were, since no one informed us that they had even bought our mortgage). This statement showed that as of DEC. 1st we had a payment of $23,760 due. Mind you, we didnt even get the statement till the 12th and it was due on the 1st of that month. Then my expected payment was approximately $850.00, NOT $23,000.00!
Of Course I called Ocwen immediately. Customer service told me that there must have been a mistake in the computer system and that I should just ignore that statement & send them the $850.00. The reason it was sent to me after the due date must have been due to our postal service, according to ocwen & they would be sending me a new statement.
Well for the next 2 months they kept sending me simular statements, Always after my due date. I would call them and they would say the same thing as usual, "Just ignore that statement and send your $850.00...".
In March I recieved a statement and letter stating that they would be foreclosing on my home if we didnt send them the $23,000.00 immediately.By the way this approx. $23,000.00 amount would change each month anywhere from $21,000.00 - $24,000.00. They were'nt even sure of the amount!
Finally I refused to send them another payment of $850.00 and demanded they figure out what this outlandish amount was supposed to be for.
After a couple weeks of investigating this matter they tell me that it was payments, late charges, & interest fees that were outstanding on the loan when they bought it from HUD.
I tried calling HUD to ask them how this could have happened. Of course they were no help at all either. They informed me that there was no one there for me to talk to since they no longer held any home mortgages.
Now, I bought my house in 1990 (12 years ago) for $80,000.00, after HUD & Ocwen have gotten hold of me I now owe over $95,000.00 with out any second mortgages or anything.
Ocwen so graciously offered to let us keep our home and put us on a Forebarence agreement.
Don't ever do a Forebarence Agreement if it is all avoidable.
Once a year I have to fill out a packet full of information on our income, family members, and pretty much everything but our DNA samples. They always loose the first to packets that I fill out and mail back to them. This prolongs my renewal of my forebarence. This inturn somehow screws them up at Ocwen as to when & if I continued making my usual payment.
See, this renewal usually drags on for months. During that time they hold some of the payments I make, waiting for the renewal to go into effect. The renewal is usually sent out to me in Sept. Or Oct., by the time they finally get thier act together and after I have sent my info 3 times, it goes into effect like in January or February.
This past year was not unlike any other. I sent in the request info 3 times. Each time a month or so apart (you have to wait for thier response...).in Feb. I was finally fed up with thier ridiculously poor organizational skills and sent them all this info ONCE more, but this time CERTIFIED mail, Signature recieved.
They never sent me out anything stating that a new forebarence had been assigned but they did change my statements. Now I get a statement once a month (usually after my due date, still...) that states that I owe a $950.18 payment and a past Due forebarence amount of $950.18, totalling $1900.36. I have been sending them the $950.18 each month, but have been waiting for them to correct what I assumed was another one of thier usual screw ups, with the forebarence payment.
See my actual mortgage payment is supposed to be $846.00, then they assign an additonal amount that they feel you can afford to your mortgage and that remaining amount is to be applied to the forebarence payment.
It being saturday, I cannot contact them today, but will on Monday. I am confident that they will handle this in thier usual irresponsible, incompetent, unorganized & dishonest matter. While telling me to come up with the $1900.00 by Aug. 1st or my forebarence agreement will be broke and then I will owe them the forebarence amount in full of $20,000.00 to avoid foreclosure.
There is much, much more that they have screwed up on since we have had our mortgage with them. I would refinance with another company, if I could. But due to thier numerous screw ups over the years (which left us not paying other when needed) we had to file bankruptcy last year and now our credit is SHOT!
This company needs to be put in the same position that they have put most of its customers in. Let's see how they tread water when it has been turned to QUICK SAND!
Jonie
Carpentersville, Illinois
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