IReport My Mom is disabled and has been since she was 42 years old by a stroke. She bought an affordable home in Florida with my stepfather many years ago. They never missed one payment. Recently their mortgage was bought by a company called Ocwen. Their August payment was taken out of their checking account as it always was but, they noticed the payment was $300 dollars more than is always was without any notice or commuication or explaination from Ocwen. After calling Ocwen they were told that the additional payment was for "homeowners insurance". They already hold a homeowners policy that is up to date. When they tried to pay their mortgage the next month they were told their payment would not be accepted unless it was a "full payment". They were told they were going into forclosure and were called by a company identifying itsself as a "forclosure" company on their caller ID and told this. After a little research, I found that there is a clause in most mortgages that lets banks tack on a homeowners policy if they find that the home is underinsured. It is not underinsured. I also found that in order to get around banking policy set forth by our government Ocwen has declassifyed itself as a banking institution and reclassified itself as a collection agency. The home is appraised at under $50,000. The "homeowners" policy that Ocwen is FORCING my mother to pay is approx $300 a month...$3600 a year for a home that is only worth $50,000! How is something like this being allowed to happen? My Mother and stepfather are in severe emotional distress because of this. They are terrified they will be homeless soon. I made numerous calls on their behalf Including a call to the attorney General's office in Florida and was basically told "oh, well... We can't help you". I tried to call Ocwen and was told there is no way to contact Ocwen's corporate offices. Their address is listed as a P. O box. What kind of country do we live in where someone who pays their mortgage faithfully can have their home ripped away from them by an unethical company? Someone please explain this to me.
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