I went to buy my home in 2001 and was told had to rent it for 1 year to have a better chance to purchase home due to credit score and first time home buyer. I did do this and in 1 bought the home at 11.25% interest rate. I was excited even thought I knew it was way over priced. My loan was then sold to Ocwen not even 1 month from my purchase date. I then got ill 3 months later and I fell behind. I went from a 29.00/hr to 10.00/hr and family of three.
I still tried to pay my payments and I always called them to let them know what was going on. I always asked if it was being recorded on my file that I am trying. I would send in partial payments and they said it was being held in "a piggy bank" until the full house payment was there. I was almost 3 months behind and they sent out attorney letters with almost 7000.00 in fees, attorney costs, filing fees etc. I freaked and didnt know what to do. It was going to forcloser and put in the papers for forcloser sale. I then talked to a Gary Wurbuton, whom I was told was the attorney.
Coming to find out he wasnt he just worked in the office. He was nice though and got me on a forbearance plan with aprox 1900.00 down and 700.00 month. I did that the forbearance plan was coming to an end and they wanted the full 6000.00 and I couldnt get a loan for that. My husband wasnt on the loan so he tried to refinace for me and I was working and the company he was refinacing with was just about to close and called for a pay off balance and got it and when we were going to sign the closing papers they pulled his credit one last time to make sure there was nothing on it (he had excellent credit) and then they saw that Ocwen reported a forbearance on his credit report. I called them and told them that he isnt even on the loan, they apologized and sent us a letter and said they have reported that it was a mistake on his credit and to have it removed.
Well, that was Nov and 2 of the credit bureaus have removed it and one refuses even with the letter. It has dropped his score now to below 500 and Ocwen says they arent responsable any longer due to sending us a letter and now WE have to get it taken care of. Well since then the company we were gonna refinance with wont do it until it is off of all the credit reports and his score goes back up so we lost out on the 375.00 appraisel and still no refinance. I am coming up to my forbearance expiring again and talked to Ocwen and they said they cant help until I default and goes back to attornies office and I said then it will occur more feels and they said that is right.
So here we are now still in the same place as we were 2 years ago in fear of losing our home.
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