Ocwen Federal Bank
OCWEN Federal Bank Ripped off MY House

In 1998 I needed to refinance my home due to a divorce (to pay off my ex his equity) and to do some badly needed repairs to my home. I got a loan through someone I trusted and within days of the closing it was sold to OCWEN. My home at the time appriased for $112,000 and the mortgatge was for $76,000.

Due to medical and personal reasons, I have been late on this loan due to the Adjustable Rate mortgage that soon went over 12.5%. To make a long story they have "given me chances to catch up" when I missed a payment at the cost of now more than $11,000. I have never been abole to get an accounting from them for this money. It is just for legal fees and late fees I am told.

Now they are going to sell my house and have eaten most of the equity that I have in it and they want now another $6,000 to save it so it is not even possible for me to salvage it.

As a single Mom and someone who is by no means wealthy, I feel that someone needs to do something to these people. If our coutry is pulling together to help one another in these times of fear and uncertainty, it is sad that these types of lenders are still allowed to contiue to rob Americans.

Company: Ocwen Federal Bank
Country: USA
State: California
City: Los Angeles
Address: P.O. Box 514577

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