I have dealt with Ocwen Federal Bank FSB for over 6 years with a 2nd mortgage at 13.99% interest. I got this loan at that interest rate because it solved many financial problems at the time.interestingly enough, my troubles began After I got a consolidated mortgage that paid off Ocwen and one other lender.
There is an all important document called a Release of Lien that frees the home owner from the lender. Without this Release, you cannot get another mortgage, period. I have been attempting to get this Release for 4 months.
I have called Ocwen more times than I can remember and waited for weeks for action on this. I have been promised that the release would go (and I have been told that it has been sent) to my County Clerk for his action, although Ocwen is vague on when it was sent. My County Clerk has told me that he is waiting for the documents from Ocwen so he can file the Release of Lien.
This document does Ocwen no good at all. Ocwen has been paid in full so there is no reason to hold it. I am greatly concerned that they will conveniently forget about it and hold the Release of Lien indefinitely leaving me powerless if I need to get another mortgage. If they are slow in releasing liens, anyone can lose a new mortgage because they seem to ignore requests for this document from everyone including future lenders.
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