We were refinancing our home loan to decrease our interest rate. We were contacted by Nation Wide Lending saying that they could find a lender to take our loan. We ended up with Ocwen in Flordia. From that day on the nightmare began. First, they sold our loan before we could make our first payment.
When I called to see where to send my payment they told me to not send any money until I heard from the institution that bought my loan. They also told me that our first payment would not be due for 60 days. Meanwhile, I received the letter from the new lender asking me to wait 15 days before calling them to allow for them to have all my data entered. I did that.
When I called them they told me that I was already two payments behind. When I told them what Ocwen had told me they informed me that I had been given bad information. After I sent my first payment they sent me a "Demand Letter" stating that they needed the two payments or we could loose our house. I told them I had just sent a payment. It took two weeks for them to deposit that payment, putting it in the overdue catagory. They then sent me another "Demand Letter" with another due date on it.
Meanwhile they had reported me to the Credit Bureau stating that we were late since April of when my first payment was not originally due until June. What do you do with a company like that and their unethical procedures. We are trying to refinance, but because they have reported it to the Credit Bureau it is making it difficult.
Val & Lyla
Helena, Montana
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