We purchased our home in 1985 thru Lomas Nettleton Mortage Company. After a few years in the house my husband lost his job which caused us to get behind in our notes. Since this was an FHA loan we were able to use a program that they had to reduce your notes for 3years and put the interest off until then.
During this time, we requested to be put in the FHA refinance program to have a permanent reduced note. We had completed all but the last phase of this when HUD sole our loan (probably because we involved our district representative in the sitiation) to Berkley Mortage Company. Shortly after that they sold it to Ocwen Federal. This was the move from Hell!!!
At first they set up a repayment plan for the interest arrearage. Then after awhile they started to demand it and when we told them we couldn't afford it, the put us in a forbearance plan. Well this was just like paying rent. We are in our home for 17 years and still owe more than what the house was purchased for. And because of the arrearages, we are not able to refinance!
Can you imagine paying 11.5 percent interest in this day and age. It's ridiculous. To make a long story short, a year and a half ago we filed backruptcy to keep them from taking our home. Ocwen came back after a year and requested that they be release from the bankrupty rules because we were not up to date with our payments. We had no idea. What they did was search payment records from years back and found two payments that we could not explain or prove were paid and the stupid Louisiana judges granted them the release.
Immediately they began to call us and badger us to go into a reinstatemet of forbearance. Before our bankcrupty they were demanding 17,0000 including the 10,000 dollars interest arrearages from the HUD agreement. Well now they are requesting 12,000 dollars of trumped up fees that they can't and won't give us an explaination of not including the 10,000 dollars insterest arrearage.
I am running to the nearest lawyer even though I can't afford one to try and get out of this nitemare. I file a complaint with the Federal Trade Commision and the told me that since this is a Bank they can't help me and are turning it over to the law enforcement agency that might handle this. I hope this is not another brush off. God help us one and all who have the unfortunate coincidence of have any sort of dealings with Ocwen Federal Bank. I hope somebody can get through to Washington about this and but these people 6 feet under. Where can we go to add our names to the list for the class action lawsuit.
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