I have been with Ocwen since they bought my mortgage from Litton. Ocwen appears to only be a collection company that buys bad loans for pennies on the dollar. Since my home still has equity, it must appear to Ocwen as a giant Twinkie in a Hostessless world.
For the past year, I have applied, through them, for Obama's Dodd Frank modification. It is a joke. I have resubmitted every document four or five times. I have spoken to reps from India to Florida and every one of them have a different request or answer. I now send everything to two addresses, 6 fax numbers, and 5 email addresses because they always state that they do not get the information. It is a testament of patience. I know they want me to get so frustrated that I give up.
A couple of months ago, after going through this for almost a year, Ocwen called and said that my modification had been rejected. When I asked why, they just said that he had been rejected and they had no further information about it. Just like that... This is after me jumping through a thousand redundant hoops for a year.
Now they have "offered" me their "in house" modification. I have had to literally fill out every Dodd Frank form again and resubmit it. I have had to resubmit proof of residency (even though I've lived in my home since 1994) Six times! 2 times in the last 10 days. I found this website because I was looking for the Request for Mortgage Assistant form online (again), to re-send to them today.
In the meantime, as they kept telling me that a decision was coming, they filed for foreclosure in my City and County, without mentioning it. I cashed in my last Roth to get my mortgage caught up. But they applied 2 months of payments to late fees, even though they said they would specifically not do it, keeping me two months behind on my mortgage.
I was a sub primer, for the right reasons. I ran through some hard times and fell behind. Now, things are better but my interest rate is 9% and Ocwen still will not help me. They don't want to help - they want my home.
The good news? I am a freaking Zen Master now. I am patient and calm while talking to people I cannot even understand. I calmly re-submit documents as if it were the first time and was all my fault. I will not let them get to me, and I will not let them win.
But, it's not right. I am not an Obama fan, but he seems to be a good man. I would think that if he knew how his well intentioned policies have been twisted to benefit the greedy, he would be ashamed. But, of course, I know better than to think anyone would step outside of their world and actually care.
I am a self employed businessman for 30 years. I have struggled through hard times and this is just another obstacle. I cannot imagine how stressful and overwhelming this must be for a struggling employee who has fallen behind on the biggest investment they have. And, not knowing any better, actually believe what Ocwen tells them. It must be very frightening. It is certainly not surprising or unexpected, but nevertheless, this corporate behavior is shameful...
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