Ocwen Federal Bank (mis) handles my mortgage. Contrary to my requests, Ocwen pays my quarterly taxes, resulting in increased monthly payments ($600 more as of this month) to the point at which I cannot afford them.
I fully expect them to drive me into default as a result, then foreclose on the house and make some decent bucks on the resale. They refuse to listen to the customer, use stonewalling tactics, have zero interdepartmental communication, and God help the one whose mortgage account is assumed by them. Evidently, there are many people around the country who are in similar situations with Ocwen. They reportedly have a 39% foreclosure rate. These people are in the real estate business, not the mortgage business. The mortgage thing is just to supply the real estate thing.
Beware this lender.
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