On April 24th our refinance for our property finally closed. For a month Ocwen refused to divulge information about our loan to the new lender, even though they had received the notarized requests required. This month was vital, because it pushed a late payment past the point at which, in law, it became possible to foreclose. At the point at which Ocwen finally sent the information, they cited late payments for every payment we had made in the past year, and $12,000 of interest against the late payments. We made approximately three payments last year outside of the grace period, and three late payments connected with the refinance. They said that every single payment was late, cited over $9000 in late payments that they had never charged us before, and placed the $12,000 interest on it. With the two late payments, re-instating with Ocwen would have cost so much, they could have re-possessed the house. Fortunately, Ameriquest, the company we were using for the re-if, was willing to absorb some of the excess interest in order to complete the refinance. We lost around $25,000, not our home. Cynthia South San Francisco, California
U.S.A.
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