I am sooo glad I found this website. We had our house built in 2000. The day we signed the papers the loan was sold to Option One. Option One sold our loan to Ocwen. We immediatly had problems.
Our loan had been written to not include taxes or insurance escrow. Ocwen paid the propery taxes and did not inform us. They then set up an escrow account and tacked that amount on to our loan.
My husband then lost his job and our mortgage got behind. Moss, Codilis..."helped" us by getting us a forebearance plan. I wish we would never have signed those papers but when being threatened with foreclosure you will do almost anything to save your home.
The payments went up not down. I often wonder why they thought having us pay more money each month was going to work. It seems like forever that we have been on the forebearance plan and the bottom line only goes up not down.
I have called them serveral times to have this explained to me but I get the run around. I understand late fees, I understand escrow but i don't get how our loan was for 131,000$ and is now 147,000$ and climbing.
The last person at Ocwen that I asked for an explanation said I should go home and ask my husband to explain it to me. I won't even comment on that remark.
We are trying to refinance and have been through several companies. So far no one can help us. The payoff quote is a nightmare of Foreclosure (which we had never been told about), legal fees, late fees (they seem to multiply faster than time passes) and an escrow mess that no can seem to figure out.
We had a late payment and tried to send a large sum but all we've heard so far from Moss... Is that we defaulted and have 33 days to pay. I am not so sure I want to pay. I really just want out from under them. I am tired of all this.
I read about the class action suit is it too late for us to sign up? What do we do? I tried to email Mr. Hanson but it got returned.
It seems to me that this forebearance thing is a "gotya". There is no way out. I did the math and we will never pay it off and out credit is getting worse by the month. At this rate we will never be able to refinance.
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